Active Clothing To Raise Rs 323 Cr. Via Warrants
Active Clothing Co. Ltd., one of India’s leading design-to-shelf platforms specializing in flat-knitted sweaters, jackets and circular-knitted apparel for global fashion brands, has announced that its Board has approved a preferential issue of warrants to raise up to Rs 323 crore.
Under the proposed issue, the company will allot up to 20,00,000 warrants, each convertible into one fully paid-up equity share of face value Rs 10. The warrants will be issued at Rs 1,615 per warrant, payable in cash, aggregating to a total fund raise of Rs 323 crore.
The preferential issue will be made to promoters, members of the promoter group, and non-promoter investors. Of the total warrants to be issued, 50% will be allotted to promoters and the promoter group, while the remaining 50% will go to non-promoter investors.
The capital infusion is expected to strengthen the Company’s financial base, provide growth capital for expansion, and enhance long-term stakeholder value.
Commenting on the development, said, “The Rs 323 crore 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.”
