Denim maker, Nandan Denim (NDL) is planning to raise Rs 100 crore from the warrants issued to fund its growth plans, investment in proposed subsidiaries, meet long term working capital requirement and improve capital structure, etc.
The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund and LGOF Global Opportunities at Rs 200 each.
The FII & FPI holding stands at 11.02 per cent as on June 2016, while the promoter group holding stands at 58.27 per cent. Post issue of the 50 lakh warrant, holding of FII & FPIs will increase to 19.70 per cent and promoter holding will come down at 52.78 per cent.
