Sadhana Nitro Chem Gets In-Principle Approval for Preferential Issue

Sadhana Nitro Chem Ltd has received in-principle approval from both BSE and NSE for a proposed preferential issue of 6,75,00,000 equity shares of Re. 1/- each at a price not less than Rs. 2.06/- per share to non-promoters. The approval is conditional upon compliance with various SEBI regulations, including the ICDR and LODR Regulations. The company must obtain undertakings from allottees regarding trading restrictions and strengthen internal controls. Failure to comply may impact the listing of the shares. The company is required to make a listing application within twenty days of allotment.