Bhandari Hosiery Exports To Raise Rs 493 Million Via Rights Issue

Bhandari Hosiery Exports Ltd, a leading knitwear and garment manufacturer based in Ludhiana, has announced that its board has approved raising Rs 493 million through a rights issue. The move is aimed at bolstering working capital requirements and supporting the company’s growth initiatives in both domestic and international markets.

Key Highlights

• Board of Directors approved raising Rs 493 million via rights issue.
• Funds will be utilized to strengthen working capital and support expansion plans.
• The rights issue will be executed in compliance with SEBI (ICDR) Regulations.
• An empowered committee will oversee the execution of the rights issue.
• The company manufactures knitwear, garments, and fabrics, catering to domestic and export markets.
• Bhandari Hosiery Exports operates from Ludhiana, Punjab, with a workforce of over 380 employees.
• The initiative reflects the company’s strategy to secure long-term equity funding.

Conclusion
The rights issue approval marks a significant step for Bhandari Hosiery Exports Ltd in enhancing liquidity and sustaining growth. With strengthened capital, the company is positioned to expand its footprint in the textile industry and reinforce its competitive edge in global markets.

Sources: Economic Times, FilingReader, Chittorgarh