The rights issue committee of Bombay Dyeing & Manufacturing Company has considered and approved the draft letter of offer for the proposed Rs 940 crore, the company said in a BSE filing, on Monday
On September 22, the company’s board had approved raising of funds through a rights issue of upto Rs 940 crore. The draft letter of offer dated October 3, 2022 will be filed with the Securities and Exchange Board of India (Sebi), BSE and National Stock Exchange of India.
Bombay Dyeing, which is into manufacturing of home furnishings, towels, linens, kids wear, leisure clothing among other products, sells it through over 350 exclusive Bombay Dyeing retail and more than 2000 multi-brand stores.
The company had narrowed its net loss to Rs 76.82 crore in the three months ended June 2022 versus a net loss of Rs 107.91 crore in the quarter ended June 30, 2021. Net sales of the company increased rose 59.21% year-on-year to Rs 606.37 crore during the quarter. Bombay Dyeing & Manufacturing Company’s share price closed down 0.31% at Rs 95.95, on BSE, on Monday.