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Nandan Denim zooms on plans to raise Rs 50 crore

22 Sep 2015

Nandan Denim is currently trading at Rs. 139.40, up by 9.40 points or 7.23% from its previous closing of Rs. 130.00 on the BSE.

The scrip opened at Rs. 135.50 and has touched a high and low of Rs. 143.50 and Rs. 135.00 respectively. So far 99355 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 174.00 on 05-Aug-2015 and a 52 week low of Rs. 40.00 on 25-Sep-2014.

Last one week high and low of the scrip stood at Rs. 143.50 and Rs. 109.50 respectively. The current market cap of the company is Rs. 644.52 crore.

The promoters holding in the company stood at 60.94% while Institutions and Non-Institutions held 3.16% and 35.90% respectively.

Nandan Denim (NDL) is planning to raise Rs 50 crore by issuing 2.5 million fully convertible warrants (FCWs) to UK-based foreign institutional investor, Polus Global Fund.

The warrants will be converted into equity shares at Rs 200 per share within 18 months time. The conversion price of Rs 200 per share is at over 70 per cent premium to September 18 closing price of Rs 115.50 per share on BSE and 250 per cent premium to the book value of Rs 57 per share.

Nandan Denim is company engaged in textile industry, manufacturing gray cotton fabrics, khakhis and denims.


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SEBI Registered: Investment Adviser - INA000013323