Bhandari Hosiery Exports Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/04/2025 ,inter alia, to consider and approve raising long term ....
BHANDARI · price
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Bhandari Hosiery Exports has informed stock exchanges that its Board of Directors will meet on 30th April 2025 to consider raising long-term equity funds through a fresh Rights Issue. The proceeds from the Rights Issue are intended to be used for two main purposes: reducing the company's existing secured debts and providing additional working capital to support its operations. The Board will also consider forming a dedicated Rights Issue Committee to ensure smooth execution of the issue. No specific issue size, price, or ratio has been disclosed yet, as these details will be worked out at the upcoming meeting.
For existing shareholders, this signals a potential equity dilution as new shares will be issued through a Rights Issue, though it also aims to strengthen the balance sheet by cutting debt and boosting working capital. The stock may see some near-term volatility as the market awaits further details on the issue price, size, and record date.