Globe Textiles Rights Issue will open for subscription from 05 March 2024. the company aims for an issue size of ₹49 Crores through this rights Issue.
About the company
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
- JEANS & Shorts
- Printed Fabric (Polyester Print Fabric, Chadri Voile, Cotton Prints, Cotton Dyed)
- Jackets
- Face Mask
- Denim and Non-Denim Fabrics
- Home Textiles (Bed Sheet, Comforters, Curtains, Table Linens)
The company trades yarns, denim, and non-denim fabrics, shirting fabrics, and jeans. It also offers job work to clients.
Objectives of the Issue
- Acquisition of Equity Shares in Globe Denwash Private Limited
- Repayment of Loan availed from the related party through conversion of outstanding Loan to Equity
- Working Capital
- General Corporate Purpose
Globe Textiles Rights Issue Timetable
| Last Date to buy shares | 22 February 2024 |
| Record Date | 23 February 2024 |
| Credit of Rights Entitlements | 28 February 2024 |
| Bid/Offer Opens On | 05 March 2024 |
| Renunciation of Rights Entitlements | 12 March 2024 |
| Bid/Offer Closes On | 15 March 2024 |
| Deemed Date of Allotment | 19 March 2024 |
| Credit Date | 26 March 2024 |
| Listing Date | 29 March 2024 |
Globe Textiles Rights Issue Details
| Issue Open | March 5, 2024 – March 15, 2024 |
| Security Name | Globe Textiles (india) Limited |
| Issue Size (Shares) | 151,141,500 |
| Issue Size (Amount) | ₹49.00 Crores |
| Issue Price | ₹3 per share |
| Face Value | ₹2 per share |
| Listing At | NSE |
| Terms of Payment | Rs. 3/- per Rights Equity Share (including a share premium of Rs. 1 per Rights Equity Share) shall be payable on application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| 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 |
Globe Textiles Rights Issue Documents
Lead Manager(s)
Globe Textiles Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Company Contact Information
Globe Textiles (india) Limited
Plot No. 38 to 41
Ahmedabad Apparel Park, GIDC Khokhra
Ahmedabad-380 008
Phone: +91-079 – 2293 1881
Email: cs@globetextiles.net
Website: https://globetextiles.net/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
