Garment Mantra Lifestyle Ltd's rights issue oversubscribed

The Rights Issue of partly paid-up equity shares of Garment Mantra Lifestyle Limited ("the Company"), which opened on April 30, 2025 and closed on May 14, 2025, has been successfully completed.

The Company received an overwhelming response from its investors. The Rights Issue was subscribed to the extent of 47,34,45,003 equity shares, against the issue size of 39,14,97,795 equity shares, reflecting strong investor confidence and support.

The Company will utilize the funds raised through this issue in accordance with the objects outlined in the Letter of Offer and will continue to keep the stakeholders informed about future developments.

On this occasion, Mr. Prem Aggarwal, Managing Director of Garment Mantra Lifestyle Limited, stated: "We are deeply grateful to our investors for their exceptional response to the Rights Issue. This support not only validates our past performance but also empowers us to pursue the next phase of our growth. Garment Mantra Lifestyle Limited will continue its focus on its core garment and textile business, while actively expanding into the newly entered uniform and corporate supply segment and re-emphasizing our re-commerce vertical. These initiatives are aligned with our long-term strategy to diversify and strengthen our market presence.

Since the beginning of the current financial year, we have already exported garments and textiles worth approximately %5 crore, and we are seeing encouraging momentum in our overseas business pipeline. The proceeds from this issue will significantly bolster our working capital and enable us to execute our expansion strategies efficiently.

Once again, I thank all our investors for their unwavering trust and assure them that we remain committed to delivering sustainable value."

Source : Equity Bulls

Keywords

GarmentMantraLifestyle FundRaising RightsIssue OverSubscription