Bhandari Hosiery Exports Limited has informed the Exchange regarding 'Outcome of meeting of Right Issue Committee of Bhandari Hosiery Exports Limited (the Company) proposed Rights Issue of upto Rs. 49.30 crores.'.
BHANDARI · price
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Bhandari Hosiery Exports Limited has informed the stock exchange about the outcome of its Right Issue Committee meeting. The company is proposing a Rights Issue of up to Rs. 49.30 crores. The committee meeting outcome paves the way for the company to raise fresh capital from existing shareholders. The detailed terms such as issue price, ratio, record date, and timeline are yet to be disclosed in this filing. Existing shareholders will need to monitor further announcements for the rights entitlement ratio and pricing details.
A rights issue of Rs. 49.30 crores will dilute existing shareholders unless fully subscribed. Short-term stock price may face pressure as the ex-rights date approaches, but fresh capital can strengthen the company's balance sheet for growth.