Nandani Creation Limited has issued detailed clarifications and disclosures to the National Stock Exchange of India pursuant to Regulation 4(1) of Chapter II and Regulation 30(7) of the SEBI Listing Regulations, following its Extra Ordinary General Meeting (EGM) held on March 5, 2025 via video conferencing. The disclosures respond to observations and suggestions from the exchange and are aligned with regulatory compliance under SEBI and Companies Act provisions.
The company confirmed that no funds raised through the preferential issue would be used to repay any loans of the promoter or promoter group. It also disclosed that during FY 2024-25, a total of 4,50,000 equity shares were allotted on a preferential basis in four tranches—on June 6, 12, 13, and 14, 2024—at a price of ₹79 per share (₹10 face value + ₹69 premium). These were issued pursuant to a special resolution passed at an earlier EGM held on December 1, 2022. Additionally, on August 2, 2024, the company completed a rights issue, allotting 53,27,656 equity shares at ₹30 per share (₹10 face value + ₹20 premium).
Addressing other shareholder concerns, the company provided a link to the PCS certificate from Manisha Godara and Associates and confirmed that re-computation of issue price, if required by SEBI regulations, would be undertaken. If any additional amount becomes payable due to such re-computation, the corresponding shares will remain locked-in until payment is made.
Regarding price determination, Nandani Creation confirmed that its equity shares are frequently traded on the NSE, and based on SEBI’s ICDR regulations, the floor price for the preferential issue has been calculated at ₹43.74 per share. The company further stated that it has rounded up the price to ₹44 per share, which is the final issue price. The valuation was supported by a report from Registered Valuer Mr. Ankit Kumar Jain, and the valuation report has been made available on the company’s website.
