Nandan Denim has received the third tranche amounting to Rs 12.50 crore from Polus Global Fund towards the 25,00,000 convertible warrants allotted to them at a conversion price of Rs 200 each pursuant to receipt of shareholders approval at the Annual General Meeting of the company held on September 29, 2015 and subsequent approvals from the stock exchanges.
Nandan Denim is company engaged in textile industry, manufacturing gray cotton fabrics, khakhis and denims.