Gokaldas Exports, a prominent player in the textile and apparel industry, has announced the commencement of its Qualified Institutional Placement (QIP) on Thursday, April 18. The company aims to raise up to ₹600 crore through this move.

Key Details

1. QIP Launch Date: April 18, 2024

2. Floor Price per Share: ₹789.99

3. Fundraising Target: Up to ₹600 crore

A Qualified Institutional Placement (QIP) is a capital-raising mechanism that allows listed companies to issue equity shares to qualified institutional buyers (QIBs) without going through the traditional public offering process. It provides companies with a faster and more efficient way to raise funds for expansion, debt reduction, or other strategic purposes.

Gokaldas Exports, known for its high-quality garments and textiles, has set the floor price for its QIP at ₹789.99 per share. By targeting institutional investors, the company aims to strengthen its financial position and capitalise on growth opportunities in the dynamic textile market.

The textile and apparel sector has witnessed significant shifts in recent years, driven by changing consumer preferences, sustainability concerns, and technological advancements. Gokaldas Exports’ move to raise capital through QIP reflects its proactive approach to staying competitive and adapting to market dynamics.

Also read: Infosys to acquire 100% stake in German firm in-tech for €450 million