Fashion giant Nandani Creation Limited migrates from NSE Emerge to Main Board of NSE
Jaipur: India's leading textile player, Nandani Creation Limited, popularly known and identified in the apparel market by the brand name “Jaipur Kurti.com”, has proudly announced that it has migrated from NSE Emerge to the Main Board of NSE. The fashion giant said that the month of September 2021 ushered in a huge development for Nandani Creation Limited and its investors.
Giving further information about the major announcement of migration from NSE Emerge to the Main Board of NSE, Nandani Creation Limited informed that the Company has received approval from National Stock Exchange of India Limited on 31.08.2021for migration of 1,0033,950 Equity shares from the NSE-SME platform to the main board of National Stock Exchange of India Limited w.e.f.02.09.2021.
The major development from the company comes weeks after Nandani Creation made a major announcement of changing its symbol on NSE from “NANDANI” to “JAIPURKURT”. Also, revealing its plans about investment, offline expansion, retail store plans, and hiring.
Recently, the Company reported resilient financial results for FY 2021, where the Standalone PAT for FY 2021 has increased by 140% to Rs. 1.78 crores as against Rs. 74 lakhs in FY 2020. The sales turnover of the Company stood at Rs. 46.09 crores in FY 2021 as against Rs 43.73 crores in FY 2020.
Commenting on the key announcement, Mr. Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited said, "It is a matter of immense pride and happiness as the migration to NSE’s main Board is a major milestone, especially in midst of coronavirus crisis. It is certainly a proud moment for our company and our stakeholders who have extended their valuable support. The trading on NSE’s main segment would lead to greater visibility for the company and will allow the company to deliver higher value to all the stakeholders.
Mr. Mundhra further added, "We are in the fashion industry for more than 18 years, and the trusted brand “Jaipurkurti.com” has left no stone unturned to assure their customers and clients by providing the most desirable, classy yet ethic outfit as per their preferred choices, and will continue to do living up to our commitment of providing the best of the industry."
Commenting on the next phase of expansion, Mr. Mundhra further said, "We will be taking the count of retail stores total to 20-25 by the end of the year 2023 and in this chain 2 offline stores have already been opened in the past few months. Key cities in the state of Rajasthan have already been finalized for the offline expansion of Nandani Creation Limited. These cities are Kota, Sikar, Jodhpur, Udaipur, Bhilwara, Ganganagar, Neemrana, and Alwar. Moreover, for the Financial Year 2022-23, Nandani Creation Limited will be strongly focussing on big cities like Pune, Gurgaon, Indore, and Delhi as well."