T T Ltd Initiates ₹400 Mn Rights Issue with 4:27 Entitlement Ratio to Fuel Growth Plans

T T Ltd., the group's substantial textile and garment business, has announced a maximum rights issue of ₹400 million, issuing 33.3 million new equity shares to existing shareholders. The rights entitlement ratio has been set at 4 shares for 27 held, as per the company's latest regulatory filing. The move is to bolster the working capital base of the company to aid its domestic and export markets growth strategy.

 

The rights issue will be discounted, to be announced subsequently, and will be coming out in the next few weeks subject to regulatory approvals. Whether the issue is renounceable or not has not been indicated by the company, but analysts are expecting good interest considering the company's and industry's improving fundamentals.

 

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Source: Chittorgarh Rights Issue Tracker | Pocketful Corporate Actions