Nath Pulp & Paper Mills in India to reduce and consolidate share capital on May 12, as directed by government agency
May 6, 2014
(Industry Intelligence Inc.)
– Nath Pulp & Paper Mills Ltd. in India has set a date of May 12 to reduce and consolidate its share capital, as directed by India’s Board for Industrial & Financial Reconstruction, reported Equity Bulls on May 5.
The company’s share capital will shrink 95%, with each share worth 10 rupees (US$0.17) lowered to 0.5 rupees, both fully paid up. Each existing shareholder having 20 equity shares of 0.5 rupees each will receive one new equity share of 10 rupees, full paid up.
During the day, the stock of Nath Pulp & Paper Mills hit a high of 1.78 rupees and a low of 1.62 rupees, with a net turnover for the day of 11,535 rupees, Equity Bulls reported.
Nath Pulp & Paper Mills is located in Maharashtra, India, and produces thermal papers for various applications, coated one-side chromo paper for sachet packaging, and kraft paper for cores, according to the company's website.
The Board for Industrial & Financial Reconstruction was established by the federal government to help identify ailing businesses and expedite the revival of potentially viable units or closure of unviable units, according to its website.
The primary source of this article is Equity Bulls, Tamil Nadu, India, on May 5, 2014. Click here to view full version of primary source's original article.