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Kerala-based Kitex Garments Ltd on Friday (August 14) said it will raise up to ₹3,000 crore through a qualified institutional placement (QIP), with the board approving the fundraising proposal on Friday, August 14.
The company said the proposed issue could comprise equity shares, non-convertible debentures along with warrants, other eligible securities convertible into equity shares, or a combination of these securities.
The securities may be issued in one or more tranches, subject to applicable laws, regulatory and statutory approvals and the approval of the company's shareholders. The final terms of the issue, including the price or prices, will be determined by the board or a duly constituted committee.
ALSO READ | Kitex Garments to invest Rs 1,000 crore in Telangana, alleges harassment by officials in Kerala
Headquartered in Kizhakkambalam near Kochi, Kitex Garments is one of the world's largest manufacturers of clothing for newborns and children.
Shares of Kitex Garments Ltd ended at ₹134.40, down by ₹4.35, or 3.14%, on the BSE.
The company said the proposed issue could comprise equity shares, non-convertible debentures along with warrants, other eligible securities convertible into equity shares, or a combination of these securities.
The securities may be issued in one or more tranches, subject to applicable laws, regulatory and statutory approvals and the approval of the company's shareholders. The final terms of the issue, including the price or prices, will be determined by the board or a duly constituted committee.
ALSO READ | Kitex Garments to invest Rs 1,000 crore in Telangana, alleges harassment by officials in Kerala
Headquartered in Kizhakkambalam near Kochi, Kitex Garments is one of the world's largest manufacturers of clothing for newborns and children.
Shares of Kitex Garments Ltd ended at ₹134.40, down by ₹4.35, or 3.14%, on the BSE.
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