T T Limited Approves Rights Issue to Raise Up to 500 Million Rupees

T T Limited, a prominent textile company, has announced its intention to raise funds through a rights issue. The company's Board of Directors, in a meeting held on February 10, 2025, approved a proposal to raise up to 500 million rupees from existing equity shareholders on a rights basis.

This decision comes as part of T T Limited's ongoing efforts to strengthen its financial position and support growth initiatives. The rights issue is subject to necessary regulatory and statutory approvals. The company has not yet disclosed specific details regarding the rights entitlement ratio or the issue price.

The funds raised through this rights issue are expected to be utilized for various purposes, including debt reduction, expansion projects, and working capital requirements. This move aligns with T T Limited's recent strategic initiatives, including partnerships with leading fashion retailers and expansion of its distribution network.

 

Source: T T Limited Board Meeting Announcement, February 10, 2025