Bhandari Hosiery Exports Rights Issue will open for subscription from 08 July 2024. the company aims for an issue size of ₹48.19 Crores through this rights Issue.
About the company
ncorporated 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.
Objectives of the Issue
- To meet the long-term working capital requirements of the company; and
- General Corporate Purposes
Bhandari Hosiery Exports Rights Issue Timetable
| Rights Issue Approval Date | 12 June 2024 |
| Rights Issue Record Date | 19 June 2024 |
| Credit of Rights Entitlement | 27 June 2024 |
| Rights Issue Opening Date | 8 July 2024 |
| Last Date for Market Renunciation | 15 July 2024 |
| Rights Issue Closing Date | 30 July 2024 |
| Finalization of Basis of Allotment | 25 July 2024 |
| Rights Allotment Date | 26 July 2024 |
| Credit Date | 31 July 2024 |
| Listing Date | 5 August 2024 |
Bhandari Hosiery Exports Rights Issue Details
| Issue Open | July 8, 2024 – July 30, 2024 |
| Security Name | Bhandari Hosiery Exports Ltd. |
| Issue Size (Shares) | 76,611,591 |
| Issue Size (Amount) | ₹48.19 Crores |
| Issue Price | ₹6.26 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of the Issue Price being Rs. 6.26 will be payable on application |
| Entitlement | 15 Rights Equity Share(s) for every 32 fully paid-up Equity Shares held on Record Date |
Bhandari Hosiery Rights Issue Calculation
| Bhandari Hosiery Rights Issue Price | ₹ 6.26 per share |
| Market Price on Rights Issue Approval | ₹ 9.08 per share |
| Dilution Factor (X) | 1.47 |
| Fair Value After Dilution at Prevailing Price | ₹ 8.18 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 283.28 | 283.23 | 267.0 |
| Expenses | 271.12 | 270.21 | 242.0 |
| Operating Margin (%) | 7.98 | 8.27 | 9.00 |
| Net Income | 6.27 | 6.51 | 7.00 |
| ROCE (%) | 9.0 | 10.0 | – |
Rights Issue Documents
- Bhandari Hosiery Rights Issue Application Form
- Bhandari Hosiery Letter of Offer
- Board Meeting Outcome
Bhandari Hosiery Exports 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: bhandariexport.rights2024@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
BHANDARI HOSIERY EXPORTS LIMITED
Bhandari House, Village Meharban, Rahon Road,
Ludhiana, 141007 Punjab, India
Phone: 88720-16410
Email: cs@bhandariexport.com
Website: www.bhandariexport.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
