Bhandari Hosiery Rights Issue Date, Price, Allotment, Entitlement

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Bhandari Hosiery Rights Issue

Bhandari Hosiery Rights Issue is scheduled on 8 – 30 July 2024

Incorporated in 1993, Bhandari Hosiery Exports (BHEL) has been at the forefront of the knitwear and garment industry. Specializing in the production, processing, and trade of a wide array of apparel and fabrics, BHEL offers both dyed and undyed materials.

The company’s product range includes T-shirts, sweaters, sweatshirts, Bermudas, polo shirts, tracksuits, pajamas, undershirts, and intricately designed women’s tops featuring embroidery and prints. These high-quality products are marketed domestically and internationally, catering to a global clientele. The company has no Brands of its own.

Bhandari Hosiery Exports (BHEL) operates its manufacturing facility in Ludhiana, Punjab, which has received accreditation and assessment from “amfori BSCI”. As of June 2024, the company employs 385 dedicated professionals.

Bhandari Hosiery

Promoters of Bhandari Hosiery – Mr. Nitin Bhandari, Ms Nitika Bhandari, Ms. Kusum Bhandari and Mr. Naresh Bhandari


Bhandari Hosiery Rights Issue Details

Bhandari Hosiery Rights Issue Date8 – 30 July 2024
Bhandari Hosiery Rights Issue PriceINR 6.26 per share
Issue Size (in Shares)7,66,11,591 shares
Issue Size (in INR)INR 47.96 crore
Issue Entitlement15 equity shares for every 32 equity shares held on record date
Terms of PaymentFully payable at the time of application
Bhandari Hosiery Rights Issue Record Date19 June 2024
Face ValueINR 1 per share
Listing OnNSE, BSE

Bhandari Hosiery Rights Issue Calculation

Bhandari Hosiery Rights Issue PriceINR 6.26 per share
Market Price on Rights Issue ApprovalINR 9.08 per share
Dilution Factor (X)1.47
Fair Value After Dilution at Prevailing PriceINR 8.18 per share

Bhandari Hosiery Financial Performance

 FY 2022FY 2023FY 2024
Revenue283.28283.23267.0
Expenses271.12270.21242.0
Operating Margin (%)7.988.279.00
Net Income6.276.517.00
ROCE (%)9.010.0
Figures in INR Crores unless specified otherwise

Bhandari Hosiery Rights Offer Objectives

The net proceeds from the offer are proposed to be used for

  • Reduction in Secured Term Loans from Banks – INR 7.22 crore
  • Utilization towards the long-term working capital requirement of the company – INR 34.73 crore
  • General corporate purposes – INR 5.25 crore

Bhandari Hosiery Rights Offer Documents


Bhandari Hosiery Rights Issue Dates

Rights Issue Approval Date12 June 2024
Rights Issue Record Date19 June 2024
Credit of Rights Entitlement27 June 2024
Rights Issue Opening Date8 July 2024
Last Date for Market Renunciation15 July 2024
Rights Issue Closing Date30 July 2024
Finalization of Basis of Allotment25 July 2024
Rights Allotment Date26 July 2024
Credit Date 31 July 2024
Listing Date5 August 2024

Bhandari Hosiery Rights Offer Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in


Bhandari Hosiery Issue Contact Details

BHANDARI HOSIERY EXPORTS LIMITED
Bhandari House, Village Meharban, Rahon Road,
Ludhiana, 141007 Punjab, India
Phone: 88720-16410
Email: 
[email protected]
Website:
www.bhandariexport.com


Bhandari Hosiery Rights Offer FAQs

What is the Bhandari Hosiery Rights Issue Price?

The issue price is INR 6.26 per share.

What is the Bhandari Hosiery Rights Issue entitlement ratio?

The eligible shareholders are offered 15 Equity Shares for every 32 Equity Shares held on the record date.

What is the Bhandari Hosiery Rights Issue Record Date?

The Record date is 19 June 2024.

How to Apply for the Bhandari Hosiery Rights Offer?

The best way to apply for the Bhandari Hosiery Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.

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