Contents
- 1 What is a Rights Issue?
- 2 Table of Contents
- 3 Bhandari Hosiery Exports Rights Issue 2024: Details
- 4 Key Details of Bhandari Hosiery Exports Rights Issue 2024
- 5 Timeline of the Rights Issue
- 6 Objectives of the Issue
- 7 Financial Performance and Strategic Position
- 8 How to Participate in the Rights Issue
- 9 Contact Information and Registrar
- 10 FAQs Of Bhandari Hosiery Exports Rights Issue 2024
Bhandari Hosiery Exports Rights Issue 2024: Bhandari Hosiery Exports Limited, a renowned player in the knitwear and garment manufacturing sector since its inception in 1993, is gearing up for a Rights Issue in 2024. This issue presents an opportunity for existing shareholders to participate in the company’s growth journey by acquiring additional shares at a discounted price.
What is a Rights Issue?
A Rights Issue is a mechanism through which a company raises additional capital from its existing shareholders. In the case of Bhandari Hosiery Exports Rights Issue 2024, shareholders have the right to subscribe to 15 equity shares for every 32 fully paid-up equity shares held as of the Record Date, which is June 19, 2024.
Table of Contents
Bhandari Hosiery Exports Rights Issue 2024: Details
| Aspect | Details |
|---|---|
| Issue Period | July 8, 2024 – July 22, 2024 |
| Security Name | Bhandari Hosiery Exports Ltd. |
| Issue Size (Shares) | 76,611,591 |
| Issue Size (Amount) | ₹48.19 Crores |
| Issue Price | ₹6.26 per share |
| Face Value | ₹1 per share |
| Listing Platforms | BSE, NSE |
| Entitlement | 15 Rights Equity Shares for every 32 fully paid-up shares held on Record Date (June 19, 2024) |
| Subscription Timeline | Opens on July 8, 2024; Closes on July 22, 2024 |
| Renunciation Deadline | July 16, 2024 |
| Objective of Issue | Long-term working capital and general corporate purposes |
| Registrar | Link Intime India Private Ltd |
| Registrar Contact | +91-22-4918 6270 |
| Registrar Email | bhandariexport.rights2024@linkintime.co.in |
| Registrar Website | Link Intime India |
Key Details of Bhandari Hosiery Exports Rights Issue 2024
- Issue Size: The Rights Issue comprises 76,611,591 shares, amounting to ₹48.19 crores.
- Issue Price: Each share is priced at ₹6.26, with a face value of ₹1 per share.
- Listing: Shares will be listed on both BSE and NSE after the issue.
Timeline of the Rights Issue
- Last Date to Buy Shares: Shareholders must purchase shares by June 18, 2024, to be eligible for the Rights Issue.
- Record Date: June 19, 2024, is the cutoff date to determine eligibility for the Rights Entitlement.
- Offer Opens: The subscription period begins on July 8, 2024, and closes on July 22, 2024.
- Renunciation: Shareholders can renounce their Rights Entitlements until July 16, 2024.
Objectives of the Issue
The primary objectives of raising funds through the Rights Issue include meeting long-term working capital requirements and fulfilling general corporate purposes. This strategic move aims to strengthen Bhandari Hosiery Exports’ financial position and support its expansion initiatives.
Financial Performance and Strategic Position
Bhandari Hosiery Exports has demonstrated resilience and growth in its financial performance. As of December 31, 2023, the company reported revenues of ₹177.94 crores and a Profit After Tax of ₹4.90 crores. The company’s manufacturing facility in Ludhiana, Punjab, is well-equipped to cater to both domestic and international markets, offering a wide range of high-quality knitwear and garments.
How to Participate in the Rights Issue
Shareholders eligible for the Rights Issue will receive a Letter of Offer detailing the terms and conditions. To subscribe, shareholders need to follow the instructions provided in the offer document, ensuring timely payment and compliance with regulatory requirements.
Contact Information and Registrar
For any queries regarding the Rights Issue, shareholders can contact the registrar, Link Intime India Private Ltd, at +91-22-4918 6270 or email them at bhandariexport.rights2024@linkintime.co.in. Additional information is also available on their website: Link Intime India.
FAQs Of Bhandari Hosiery Exports Rights Issue 2024
What is the issue size and price of the Bhandari Hosiery Exports Rights Issue 2024?
The Rights Issue comprises 76,611,591 shares at ₹6.26 per share, with a face value of ₹1 per share.
Shareholders are entitled to subscribe to 15 equity shares for every 32 fully paid-up equity shares held as of the Record Date, June 19, 2024.
When does the subscription period for the Rights Issue begin and end?
The subscription period opens on July 8, 2024, and closes on July 22, 2024.
How can I participate in the Rights Issue?
To participate, eligible shareholders will receive a Letter of Offer detailing the terms and conditions. Follow the instructions in the offer document to subscribe to the shares.
