Bhandari Hosiery Exports Ltd Modifies Utilization of Funds Due to Rights Issue Under-subscription

Bhandari Hosiery Exports Ltd held a Board Meeting to discuss the modification in utilization of funds raised through the rights issue due to under-subscription. The Chairman explained that the company was unable to deploy the funds within the period due to limited banking days available between the date of fund release and 31st March 2026. The funds were utilized to repay MSME and pressing creditors, suppliers of raw material, dyes, chemicals, consumables and right issue expenses. The remaining funds will be utilized for long term working capital and rights issue expenses on or before 30th June 2026. The long term loans payment and general corporate purpose use of funds have been deferred due to the under-subscription of the rights issue i.e. 48.44%.