Bhandari Hosiery Rights Issue is scheduled on 8 – 22 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.
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 Date | 8 – 22 July 2024 |
| Bhandari Hosiery Rights Issue Price | INR 6.26 per share |
| Issue Size (in Shares) | 7,66,11,591 shares |
| Issue Size (in INR) | INR 47.96 crore |
| Issue Entitlement | 15 equity shares for every 32 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Bhandari Hosiery Rights Issue Record Date | 19 June 2024 |
| Face Value | INR 1 per share |
| Listing On | NSE, BSE |
Bhandari Hosiery Rights Issue Calculation
| Bhandari Hosiery Rights Issue Price | INR 6.26 per share |
| Market Price on Rights Issue Approval | INR 9.08 per share |
| Dilution Factor (X) | 1.47 |
| Fair Value After Dilution at Prevailing Price | INR 8.18 per share |
Bhandari Hosiery Financial Performance
| 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 | – |
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 Date | 12 June 2024 |
| Rights Issue Record Date | 19 June 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 8 July 2024 |
| Last Date for Market Renunciation | 16 July 2024 |
| Rights Issue Closing Date | 22 July 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
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 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.
