Breaking News

You are here » Indian-Commodity  :  Top News  :  Nitin Fire to sell shares in Nitin Ventures, Worthington Nitin Cylinders

03-Nov2017

Nitin Fire to sell shares in Nitin Ventures, Worthington Nitin Cylinders

Nitin Fire Protection Industries has received an approval for sale/disposal/divestment/transfer of all or part of the shares in the company's subsidiary, namely, Nitin Ventures FZE, UAE. It has also received approval for sale/disposal/divestment/transfer of all or part of 40% shares in the company's associate - Worthington Nitin Cylinders. The board of directors at its meeting held on November 3, 2017 has approved for the same.

Further, the board also approved for raising funds by issuance of securities to Qualified Institutional Buyers up to Rs 500 crore on QIP basis; and/or raising funds by issuance of equity shares including convertible bonds/debentures/warrants/depository receipts up to Rs 500 crore on preferential basis.

Nitin Fire Protection Industries is a leading fire protection, safety, securities and intelligent building management system, high pressure seamless cylinder and refuelling systems company in India.



Related News

View all news

Crude oil futures extend losses on Thursday

Extending previous session losses, crude oil futures ended lower on Thursday due to a sharp jump in US crude inventories last week and on demand growth concerns. The Energy Information Administration's......

Gold futures end higher on Thursday

Gold futures ended higher on Thursday despite rising US dollar on minutes of the Federal Reserve's latest policy meeting indicating that the central bank is staying the course on interest rate hikes.Gold......

Copper futures end lower on Thursday

Copper futures ended lower on Thursday, following Chinese stock markets lower on the prospect of slowing global economic growth. Further, concerns over US interest rates and the US-China trade war too......

Top News

View all news

IRB Infrastructure's arm achieves financial closure for Vadodara-Mumbai Expressway project

IRB Infrastructure Developers' Wholly-owned Subsidiary (SPV) -- VK1 Expressway has achieved financial closure for the project of construction of eight lane Vadodara Kim Expressway from Km 355.00 to Km......

Havells India reports 4% rise in Q2 net profit

Havells India has reported results for second quarter ended September 30, 2018.The company has reported 4.44% rise in its net profit at Rs 178.62 crore for the quarter under review as compared to Rs 171.02......

Mphasis reports 37% rise in Q2 consolidated net profit

Mphasis has reported results for second quarter ended September 30, 2018.The company has reported a rise of 9.42% in its net profit of Rs 188.94 crore for the quarter under review as compared to Rs 172.67......