Den Networks Ltd
has informed BSE
that a meeting of the Board of Directors of the Company will be held on September 20, to discuss and approve proposal for Preferential Issue of Equity Shares to one of the leading global financial investors who will form part of the persons belonging to Non Promoter Category
, subject to approval of the board of directors, shareholders and in compliance with the all applicable laws including without limitation the provisions of the SEBI
(Issue of Capital and Disclosure Requirements) Regulations, 2009 (as amended from time to time), enabling provisions of the memorandum and articles of association of the company and the Listing Agreement entered into with relevant Stock Exchanges
and subject to such other requisite approvals from the regulatory and other authorities as may be required.
Den Networks Ltd is currently trading
at Rs. 79, up by Rs. 0.65 or 0.83% from its previous closing of Rs. 78.35 on the BSE.
The scrip opened
at Rs. 79 and has touched a high and low of Rs. 79 and Rs. 78.1 respectively. So far 28960 (NSE
+BSE) shares were traded on the counter. The current market cap
of the company is Rs. 1396.2 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 133 on 21-Sep-2015 and a 52 week low of Rs. 60.5 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 81 and Rs. 69.3 respectively.
The promoters holding in the company stood at 40.05 % while Institutions and Non-Institutions held 45.18 % and 14.77 % respectively.
The stock is currently trading below its 200 DMA.