Nahar Industrial Enterprises Limited (BSE:519136) announced that it will issue up to 10,000,000 non-convertible non-cumulative redeemable preference shares at a price of INR 100 per share for gross proceeds of INR 1,000,000,000 on January 15, 2019. The transaction will include participation from promoter group entities in one or more tranches. Each preference share bears coupon of 5.5% and to be redeemed within 5 years of issue. The transaction has been approved by the board of directors of the company and is subject to shareholder's approval.