Nimbus Foods Industries approves preferential issue

The Board of Directors of Nimbus Foods Industries Ltd at its meeting held on December 11, 2014, has approved the issue of 230000000 (Twenty-Three crore) convertible equity warrants of Rs. 3/- each (including premium of Rs. 2/- each) on preferential basis in accordance with the provisions of Companies Act & as per SEBI (Issue of Capital & Disclosures Requirements] Regulations, 2009.

The Board also approved the proposal to increase the Authorized Capital of the Company. The above proposals are subject to the approval of shareholders.

The company will hold EGM in due course for the abovementioned matters.

Shares of NIMBUS FOODS INDUSTRIES LTD. was last trading in BSE at Rs.1.05 as compared to the previous close of Rs. 1.1. The total number of shares traded during the day was 22408 in over 85 trades.

The stock hit an intraday high of Rs. 1.2 and intraday low of 1.01. The net turnover during the day was Rs. 25732.

Source : Equity Bulls

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