Globe Textiles Explores Direct Listing Of Equity Shares On BSE
Ahmedabad based Globe Textiles India Limited (GTIL) has plans to explore direct listing of its equity shares on the Bombay Stock Exchange (BSE).
“This strategic move underscores Globe Textiles’ commitment to enhancing transparency and maximising value for its shareholders,” the company said in a press release.
Direct listings provide a streamlined pathway for companies to access public markets without the traditional IPO process, thereby reducing costs and administrative complexities.
Furthermore, such listings promote liquidity, fostering a vibrant trading environment for listed securities.
Globe Textiles has recently acquired Globe Denwash Private Limited which has an environmentally friendly facility with a Zero Liquid Discharge system.
Globe Denwash also has a small solar generation facility which minimises energy costs while using green energy.
Globe Textiles expects a 30 percent uptick in revenue and a top-line of Rs 520 crore by 2027 on consolidated basis.
The company has a production capacity of over 2.5 lakh sq. feet where it manufactures 36 million metres of fabric and 2.5 million bottoms per annum.
It has reported robust financial results over the years with a 10-year CAGR of 13 percent in revenue and 13 percent net profit.
“We remain dedicated to maintaining communication and transparency with stakeholders, including shareholders, employees, customers, and regulatory bodies,” Globe Textiles CEO Bhavin Parikh said.
