In an interview to CNBC-TV18, Govind Sharda, President of Nandan Denim spoke about their annual general meeting (AGM) and the shareholder nod that they got to issue 50 lakh convertible warrants to foreign investors at a price of Rs 200 each.
Nandan Denim is in the midst of expanding its capacity -- from 99 million metre per annum (mmpa) to 110 -- which would come on stream in the next three months, the company's president Govind Sharda says.
Of the 6 percent topline growth, 3 percent is due to higher volume and the other 3 percent is attributed to the price rise, says Govind Sharda, President of Nandan Denim.
The denim player expects to reach 110 million meters per annum (mmpa) by June of this year from its current capacity of 99 mmpa, says Govind Sharda, President of Nandan Denim in an interview with CNBC-TV18.
The Ahmedabad-based company has earmarked a capacity expansion plan to strengthen its domestic market share, expand exports business and have an increased focus on value-added segments.