Kitex Garments Plans to Raise Up to ₹3,000 Cr
Kitex Garments Ltd announced that its Board of Directors has approved a plan to raise funds up to ₹3,000 Crores. The fundraising can be done through various permissible modes, including Qualified Institutional Placement (QIP), issuance of equity shares, non-convertible debentures with warrants, or other convertible securities, individually or in combination. The specific terms and pricing will be determined by the Board or a constituted committee, subject to regulatory and shareholder approvals. This move aims to bolster the company's financial resources for future growth and strategic initiatives.
Key Highlights
- Board approved raising up to ₹3,000 Crores.
- Funds can be raised via QIP, equity, or debt instruments.
- Specific terms to be decided by the Board/Committee.
- Subject to regulatory and shareholder approvals.
- Aims to strengthen financial position for growth.
Price Impact
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