Business News | Active Clothing Co Limited Board Clears ₹23 Cr Fund Raise Via Warrants
Get latest articles and stories on Business at LatestLY. Mohali (Punjab) [India], January 28: Active Clothing Co limited, (BSE - 541144), India's one of the leading design-to-shelf platforms, specializing in flat-knitted sweaters, jackets, and circular-knitted apparel for global fashion brands, has announced the approval of a preferential issue of warrants by its Board.
PNN
Mohali (Punjab) [India], January 28: Active Clothing Co limited, (BSE - 541144), India's one of the leading design-to-shelf platforms, specializing in flat-knitted sweaters, jackets, and circular-knitted apparel for global fashion brands, has announced the approval of a preferential issue of warrants by its Board.
The Board has approved the issue of up to 20,00,000 warrants, each convertible into or exchangeable for one fully paid-up equity share of the Company having a face value of ₹10 each. The warrants will be issued at a price of ₹115 per warrant, payable in cash, aggregating to a total amount of up to ₹23 Cr.
The preferential issue will be made to promoters, members of the promoter group, and non-promoter investors. Of the total warrants proposed to be issued, 50% will be allotted to the promoters and promoter group, while the remaining 50% will be allotted to non-promoter investors.
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The funds raised through the issuance of warrants are expected to strengthen the Company's capital base and support its growth plans, while enhancing long-term value for stakeholders.
Commenting on the Financial performance Mr. Rajesh Mehra Managing Director, of Active Clothing Co Limited said, "The ₹23 Cr preferential issue is a strategic step to strengthen our capital base and support the next phase of growth. The infusion will enhance financial flexibility, improve balance sheet strength, and enable us to pursue expansion opportunities while continuing to deliver value to our global customers and stakeholders."
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