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.

Bhandari Hosiery Exports Rights Issue 2024

Bhandari Hosiery Exports Rights Issue 2024: Details

AspectDetails
Issue PeriodJuly 8, 2024 – July 22, 2024
Security NameBhandari 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 PlatformsBSE, NSE
Entitlement15 Rights Equity Shares for every 32 fully paid-up shares held on Record Date (June 19, 2024)
Subscription TimelineOpens on July 8, 2024; Closes on July 22, 2024
Renunciation DeadlineJuly 16, 2024
Objective of IssueLong-term working capital and general corporate purposes
RegistrarLink Intime India Private Ltd
Registrar Contact+91-22-4918 6270
Registrar Emailbhandariexport.rights2024@linkintime.co.in
Registrar WebsiteLink 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.

How many shares can I subscribe to in the Rights Issue?

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.

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