~ Rs 149.50 crores by way of Qualified Institutions Placement (“QIP”)
New Delhi, 19 July 2024: With its domestic and international manufacturing facilities and supply chains, Pearl Global Industries Limited which is primarily involved in designing, manufacturing, sourcing, distribution, and export of ready-to-wear apparel for men, women, and children, announces the successful completion of its QIP by raising approximately Rs. 149.50 crores. Notable investors, such as HDFC Mutual Fund, Bandhan Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs Fund, Tata Mutual Fund, and Franklin India Mutual Fund, were drawn to the Qualified Institutions Placement (QIP).
Issue Details:
- Size of QIP: ~Rs. 149.5 Crores / 2,045,143 equity shares of face value Rs. 5 each
- Price per share: Rs. 731.00 per equity share
- Total shares outstanding (fully diluted) post allotment: 45,642,367Top of Form
Announcing the completion of the issue, Mr. Pulkit Seth, Vice-Chairman & Non-Executive Director, said, we are happy to announce the successful implementation of our Qualified Institutions Placement (QIP). This achievement demonstrates how committed we all are to enhancing our processes and offerings. We keep a close eye on our development and maintain our momentum as we proceed, paying particular attention to sustainability in all of our present and upcoming initiatives. We will work together to uphold our dedication to excellence, adhere to ESG principles, and produce outstanding results.
Mr. Pallab Banerjee, Managing Director, PGIL, said, we are ecstatic with the tremendous response to the problem and are grateful for our investors’ faith in us. These monies will be judiciously allocated with the goal of bolstering our market position, innovating our product offerings, streamlining our ESG initiatives, and increasing our investments in sustainable business operations and goods. In a market environment that is competitive, this strategy will guarantee continued growth and success.
