Bhandari Hosiery Exports Ltd has proposed raising funds by way of a rights issue, a strategic decision to meet its long-term working capital needs and general corporate objectives. The company intends to utilize this effort to enhance its financials and operational efficiency.
Key Highlights:
✅ Rights Issue Information: The rights issue will provide 15 equity shares for each 32 fully paid-up equity shares held, at a price of ₹6.26 per share.
✅ Utilization of Funds: Issue proceeds will be utilized towards working capital requirements and corporate growth activities.
✅ Board Approval: The proposal has been approved by the Board of Directors in accordance with regulatory guidelines.
✅ Market Impact: Experts say the rights issue will enhance liquidity, ensuring that shares become available for retail investors.
✅ Future Outlook: The move is set to boost shareholder value, underpinning the company's plans for expansion.
With this strategic fund-raising initiative, Bhandari Hosiery Exports Ltd is set to strengthen its market footing, promoting sustainable growth and investor confidence.
Source: Economic Times, Chittorgarh