NACL Industries To Issue Preferential Shares Worth ₹50 Crore

NACL Industries Ltd. has announced its decision to raise nearly ₹50 crore through the issuance of preferential shares to both promoter and non-promoter entities. The company’s board of directors has approved the allotment of convertible warrants and equity shares, subject to shareholder approval at an extraordinary general meeting (EGM) scheduled for January 9, 2025.

Preferential Issuance to Promoter

The company plans to issue 68,96,550 convertible warrants at an issue price of ₹58 each, amounting to ₹39.99 crore. These warrants will be allocated to promoter K. Lakshmi Raju, adhering to the provisions of the Companies Act, SEBI guidelines, and other applicable regulations. The issue price includes a premium of ₹57 per warrant.

Equity Shares for Non-Promoter Entity

In addition to the warrants, NACL Industries will issue 17,24,137 equity shares at ₹58 apiece to a non-promoter entity, totalling ₹9.99 crores. This issuance also complies with the relevant legal and regulatory frameworks. The proposed allocations will be finalised following shareholder approval during the EGM, which will be conducted via videoconferencing.

About NACL Industries

NACL Industries is a well-established company specialising in both technicals and formulations, serving both domestic and international markets. With a diverse portfolio of over 50 products that cover all major crops, the company has built a robust presence in the agricultural sector. NACL’s extensive logistics network ensures its products reach more than 55,000 retail counters.

NACL Industries Share Performance

As of December 13, 2024, 12:35 PM, the shares of NACL Industries Ltd. are trading at ₹58.46 per share with a surge of 0.64% from its previous day’s closing price. Over the last month, the stock has seen a surge of 17.11%. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.