Nakoda board approves preferential allotment

The board of Nakoda Textiles in a meeting today approved the allotment of 3.6 crore warrants of Rs 30 each that are convertible into equity shares on a preferential basis. The allotment will be made to P B Jain Investment, Nakoda Syntex and individuals Rajesh P Shah and Praveen P Shah, the company said.

Each warrant is convertible into two shares of Rs 5 each at a premium of Rs 10.00 per share, it said.