Bhandari Hosiery Exports Limited has informed the Exchange regarding Outcome of Board Meeting held on April 06, 2026.
BHANDARI · price
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Bhandari Hosiery Exports Limited held a board meeting on April 6, 2026, to discuss the utilisation of funds from a Rights Issue that concluded in March 2026. The rights issue was under-subscribed at 48.44%, raising Rs. 2378.41 Lakhs against the planned Rs. 4930 Lakhs. Due to limited banking days before March 31, 2026, the company deployed Rs. 678 Lakhs towards repayment of MSME and pressing creditors, and suppliers of raw materials, dyes, and chemicals. The company now plans to deploy the remaining funds by June 30, 2026 for long-term working capital and rights issue expenses. Key changes include deferring the reduction of long-term bank loans and general corporate purposes due to the under-subscription.
The under-subscription of the rights issue means the company has less capital than planned, forcing it to defer debt reduction. Shareholders should note that the working capital deployment timeline has been extended to June 2026, and long-term loan repayment has been postponed.