The committee has approved issue of 7,66,11,591 equity shares at an issue price of Rs 6.26/- per equity share (including premium of Rs 5.26 per equity share) for an amount aggregating up to Rs 47.96 crore to all the existing equity shareholders of the company on a rights basis in the ratio of 15 shares for every 32 shares held in the company.
The rights issue will open on 8 July 2024, last date for on market renunciation of the rights entitlements is fixed on 16 July 2024 and issue will close on 22nd July 2024.
Bhandari Hosiery Exports is engaged in manufacture of knitted fabrics Kora and dyed and is also in the manufacture and export of knitted hosiery garments such as T-Shirts, Pullovers, Sweat Shirts, Bermudas, Polo Shirts, Track Suits, Pajamas, Lowers, Ladies Knitted Tops with embroidery and prints etc. and manufacture, processing and trading of dyed and non-dyed fabrics at domestic and international levels. The Company confirms to International standards in Human Recourses Practices and adopts Eco-friendly standards in production.
The company reported a 4.48% rise in net profit of Rs 1.63 crore despite of 19.53% decrease in 88.83 crore in Q4 FY24 over Q4 FY23.