Bhandari Hosiery Exports Ltd has announced plans to consider raising up to Rs 500 million through a rights issue. The move aims to strengthen its capital base, support expansion, and enhance shareholder value. The proposal will be reviewed in the upcoming board meeting, reflecting the company’s growth-focused strategy.
In a significant development for the textile sector, Bhandari Hosiery Exports Ltd has disclosed that its board will consider a proposal to raise up to Rs 500 million via a rights issue. The announcement underscores the company’s intent to bolster its financial resources and pursue expansion opportunities in both domestic and international markets.
The rights issue, if approved, will allow existing shareholders to subscribe to additional shares, ensuring continued participation in the company’s growth journey. Analysts suggest that the capital infusion could be directed toward modernizing production facilities, enhancing export capabilities, and strengthening working capital.
This move comes at a time when the textile and apparel industry is witnessing rising demand, particularly in global markets, positioning Bhandari Hosiery Exports to leverage new opportunities.
Key Highlights And Notable Updates
• Board to consider raising up to Rs 500 million via rights issue
• Proposal ensures existing shareholders can participate in expansion plans
• Funds likely to be used for modernization, exports, and working capital
• Reflects growth-focused strategy amid rising global textile demand
• Strengthens capital base and long-term shareholder value
Conclusion
The proposed rights issue by Bhandari Hosiery Exports Ltd signals a proactive approach to scaling operations and reinforcing financial stability. If approved, the move could accelerate the company’s growth trajectory while offering shareholders a chance to deepen their investment.
Sources: Business Standard, Moneycontrol, Economic Times