MUMBAI: Shares of SME-listed Nirman Agri Genetics Limited (NAGL) hit the 5 per cent lower circuit on Wednesday, a day after the Securities and Exchange Board of India (SEBI) barred the company from accessing the securities market over alleged misuse of IPO funds.
In its interim order, SEBI directed the company to stop all proposed corporate actions, including a bonus issue, stock split, and its planned name change to ‘Agriicare Life Corp Limited’, until further notice.
On October 15, shares of Nirman Agri fell 5 per cent to Rs 166.85 apiece. The stock’s 52-week low stands at Rs 130, while its 52-week high is Rs 456. The company’s market capitalisation is around Rs 133 crore.