₹49.00 Crores | Listing at NSE | Wed, Mar 6, 2024 - Wed, Mar 20, 2024
Globe Textiles (india) Limited Rights Issue comprises 15.11 Cr equity shares aggregating to ₹49.00 Cr, offered at an issue price of ₹3 per share with a face value of ₹2 per share.
The record date for determining eligible shareholder is Feb 23, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 1.
The term of payment is defined as following : Rs. 3/- per Rights Equity Share (including a share premium of Rs. 1 per Rights Equity Share) shall be payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Mar 19, 2024.
The Rights Issue opens on Mar 6, 2024, and closes on Mar 20, 2024, with renunciation of Rights Entitlements permitted up to Mar 12, 2024.
The deemed date of allotment is Mar 19, 2024, following which the equity shares are expected to be credited to demat accounts on Mar 26, 2024 and listed at the NSE on Mar 29, 2024.
Skyline Financial Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Globe Textiles (india) Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Feb 23, 2024
Entitlement Ratio
1 : 1
Open Date
Wed, Mar 6, 2024
Close Date
Wed, Mar 20, 2024
Rs. 3/- per Rights Equity Share (including a share premium of Rs. 1 per Rights Equity Share) shall be payable on application.
Globe Textiles (india) Limited's revenue increased by 4.22% and profit after tax (PAT) dropped by -12.27% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 239.16 | 258.77 |
| Revenue | 401.83 | 385.56 |
| Profit After Tax | 4.51 | 5.14 |
| Amount in ₹ Crore | ||
Incorporated in 1995, Globe Textiles (India) Limited manufactures garments, cotton printed fabrics, home textiles, and fancy fabrics. The company has six manufacturing units, two located in Khokhra, Ahmedabad and four in Piplej-Pirana Road, Piplej, Ahmedabad.
The company has a production capacity spread across 350,000 square feet, housing several divisions. It collectively manufactures 2 million bed sets, 36 million meters of fabric, and 2.5 million bottoms per year. The company employs over 1200 workers and has a team of more than 100 staff members onboard.
The company serves both domestic and international markets.
The product portfolio consists of
The company trades yarns, denim and non-denim fabrics, shirting fabrics and jeans. It also offers job work to clients.
The company proposes deploying the Net Proceeds towards the Objects in accordance with the estimated schedule of implementation and deployment of funds outlined in the table below:
[Dilip Davda] Though this RI is at a discount of around 29% to its last traded price, it’s a high Risk/Low return bet. The financial performance is not in line with the asking price. Double paid-up equity post RI may pose servicing issue. Hence, well-informed investors may sell their current holding and apply for rights and thus get some benefit from switch over. Read detail review...
Globe Textiles Rights Issue 2024 got subscribed by 0.68 times by the end of the bidding period with total bid quantity received by NSE of 10,31,02,793 shares. Check Day by Day Subscription Details (Live Status)
| Date | NSE Bid Quantity | Subscription Times |
|---|---|---|
Mar 20 2024 17:00:04 | 10,31,02,793 | 0.68x |
Globe Textiles (india) Limited
Plot No. 38 to 41
Ahmedabad Apparel Park, GIDC Khokhra
Ahmedabad-380 008
Ahmedabad, Gujarat, 380008
Skyline Financial Services Pvt.Ltd.
The Globe Textiles Rights Issue 2024 opens on Wed, Mar 6, 2024, and closes on Wed, Mar 20, 2024.
Globe Textiles Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Wed, Feb 28, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Mar 12, 2024 |
| Issue Opening Date | Wed, Mar 6, 2024 |
| Issue Closing Date | Wed, Mar 20, 2024 |
| Date of Allotment (on or about) | Tue, Mar 19, 2024 |
| Date of Credit (on or about) | Tue, Mar 26, 2024 |
| Date of Listing (on or about) | Fri, Mar 29, 2024 |
You can apply for Globe Textiles Rights Issue 2024 in two ways:
Steps to apply for Globe Textiles Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Globe Textiles Rights Issue 2024 using Registrar's website (R-WAP)
