Active Clothing Co to raise Rs 7.5 crore to meet operational expenses and expansion plans
A specialist manufacturer of sweaters, jackets and apparel for global fashion brands, Active Clothing plans to raise funds worth Rs 7.5 crore to meet operational expenses and fund expansion of manufacturing facility to boost production.
Active Clothing will raise these funds through a preferential allotment of 500,000 warrants. Each warrant is convertible or exchangeable into one fully paid-up equity share of the company at a conversion price of Rs 150 per share.
Rajesh Mehra Managing Director, Active Clothing Co, says, this initiative is a clear testament to the customers’ growing confidence in the company’s 'design-to-shelf' business model.”
The funds will be allocated prudently supporting the firm’s day-to-day operational expenses and driving critical capital expenditure for expanding its manufacturing capacity. This investment will further enhance the company’s ability to serve clients better while delivering sustainable value to all stakeholders, he adds.
One of the leading sweaters and knitting garments manufacturers in India, Punjab-based Active Clothing Co designs, manufactures, and distributes apparel for men, women, and kids.
