Pearl Global Industries through QIP issue raised Rs. 149.5 crore raised

Apparel manufacturer and exporter Pearl Global Industries has raised Rs. 149.50 crore has been collected. The Qualified Institutional Placement (QIP) attracted significant investors like HDFC Mutual Fund, HSBC Mutual Fund, ICICI as Prudential Mutual Fund and Goldman Sachs Fund,” it said in a statement on Saturday.

The company paid Rs. 149.50 crore “has successfully completed the QIP”, it said.

Pearl Global said it has paid Rs. 731.00 at Rs. 20,45,143 equity shares of face value of 5 were issued.

The total shares outstanding after allotment are 45,642,367, the company said.

PGIL plans to use these funds to fund working capital requirements, repayment of certain outstanding borrowings, inorganic growth initiatives and general corporate purposes.

Pallab Banerjee, Managing Director, Pearl Global Industries Limited (PGIL) said, “By strategically allocating these funds, we will strengthen our market presence, innovate our product offerings, streamline our ESG initiatives and further invest in sustainable products and business operations. We aim to do.”

PGIL is engaged in the design, manufacturing, sourcing, distribution and export of ready-made garments primarily for men, women and children through its domestic and global manufacturing facilities and supply chains.

The company has manufacturing facilities in India and four other countries.

PGIL shares on BSE on Friday traded at Rs. closed at 819.50.