Board of Nandan Denim approves preferential issue of convertible warrants

At meeting held on 11 November 2014

Nandan Denim announced that the Board of Directors of the Company at its meeting held on 11 November 2014, inter alia, has considered and approved, subject to the approval of the shareholders of the Company and stock exchanges where the Company's shares are listed and receipt of relevant approvals from regulatory authorities, wherever required:

- Issue of 1,50,00,000 convertible warrants on preferential basis at Rs. 60/- per share to select group of investors (Promoter and / or Non-Promoter) to raise funds for undertaking the expansion project amounting to Rs. 612 crore and subsequent improvement in capital structure.

 

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