Nahar Industrial Enterprises has received approval from its board to raise funds by issue of 5.5% Non-Convertible Non-Cumulative Redeemable Preference Shares of Rs 100/- each up to maximum of Rs 100 crore to Promoter Group entities in one or more tranches, to be redeemed within 5 years.
Further, the Board has also approved increase/ alteration of Authorized Capital from existing Rs 65 crore to Rs 150 crore (comprising of Equity share capital of Rs 50 crore and 5.5% Non Convertible Non Cumulative Redeemable Preference share capital of Rs. 100 crore).
Nahar Industrial Enterprises is a vertically-integrated textile manufacturer.
