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Each warrant is convertible or exchangeable into one fully paid-up equity share of the company, with a face value of Rs 10, at a conversion price of Rs 150 per share, aggregating to a total value of Rs 7.50 crore. The warrants are targeted for allocation to non-promoter stakeholders, with 2,50,000 warrants (representing 1.56% of the company) allotted to Saajan Subhash Rathod and another 2,50,000 warrants (also 1.56%) to Mayank Subhash Rathod. The funds raised through this issuance will be directed towards meeting operational expenses and supporting capital expenditures necessary for expanding the capacity of company's manufacturing facility. The allotment is subject to the necessary shareholder approvals. This strategic move is expected to bolster the company's financial flexibility as it continues to support and grow its innovative 'design-to-shelf' operations for global fashion markets. Commenting on the Development Rajesh Mehra, managing director of Active Clothing Co, said, The funds will be allocated prudently supporting our day-to-day operational expenses and driving critical capital expenditure for expanding our manufacturing capacity. As demand for our innovative flat-knitted sweaters, jackets, and circular-knitted apparel continues to surge from leading global apparel brands, we are committed to scaling our operations and maintaining our competitive edge. This investment in our growth will further strengthen our ability to serve our clients better while delivering sustainable value to all our stakeholders. Active Clothing Co. is a premier apparel manufacturer based in Mohali, Punjab, specializing in flat-knitted sweaters, jackets, and circular-knitted t-shirts and sweatshirts. As India's one of the leading fully integrated design-to-shelf solution provider, the company offers comprehensive services encompassing design, manufacturing, and retail. Net profit of Active Clothing Co rose 223% to Rs 3.14 crore while net sales rose 88.89% to Rs 99.94 crore in Q3 December 2024 over Q3 December 2023. Powered by Capital Market - Live News |