Harish Textile Engineers Changes Preferential Issue to Non-Cash

Harish Textile Engineers Ltd has announced a change in the objects and manner of implementation of its proposed preferential issue. Originally approved for up to ₹13,59,23,200, the issue will now be undertaken entirely for consideration other than cash, with no cash proceeds to be received. This change follows clarifications sought by BSE Limited. Consequently, the issue size has been reduced to ₹6,78,91,200, involving the issuance of 10,60,800 equity shares at ₹64 each. The primary object remains the discharge of liabilities to improve the company's debt/equity ratio. The revised utilization plan focuses solely on discharging liabilities.