Gokaldas Exports Ltd Share Price – NSE  /  BSE

Readymade Garments/ Apparells, Small Cap

Gokaldas Exports announced the closure of its QIP issue on 23 April 2024. The fund raise committee of the company has determined and approved the issue price of Rs 775 per equity share (including a premium of Rs 770 per equity share) which takes into account a discount of 1.90% (i.e. Rs 14.99 per equity share) on the floor price of Rs 789.99 per equity share. The QIP was opened on 18 April 2024.

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The company’s board approved the opening of the issue on Thursday, 18 April 2024 with face value Rs 5 per equity share.

The floor price of Rs 789.99 is at a discount of 2.19% to Thursday’s closing price of Rs 807.70 on the BSE.

The company has said that it will not provide discount above 5% discount on the floor price given.

The Issue price will be determined by the company in consultation with the book running lead manager appointed in relation to the Issue.

The Fund Raise Committee is scheduled to be held on April 23, 2024 to inter alia, consider and approve the issue price of Equity Shares to be issued pursuant to the QIP, including any discount.

Gokaldas Exports is engaged in manufacturing and exporting of readymade garments for men, women, and children and caters to the needs of several leading international fashion brands and retailers. The company has more than 20 manufacturing facilities, primarily in and around Bangalore.

The company has reported 25% fall in consolidated net profit to Rs 30.4 crore on a 6% rise in total income to Rs 559.8 crore in Q3 FY24 as compared with Q3 FY23.

The scrip rose 0.48% to trade at Rs 811.60 on the BSE

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Gokaldas Exports has launched a qualified institutional placement of equity shares today with floor price of Rs 789.99 per equity share.

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Gokaldas Exports has allotted 27,31,366 equity shares of face value of Rs 5 each at a price of Rs 906.14 per equity share for an aggregate amount of Rs 247.50 crore to Matrix Clothing (MCPL) on preferential basis for a consideration other than cash, to discharge a portion of the consideration payable by the Company for acquiring 100% of the equity share capital of Matrix Design & Industries from MCPL.

Further, the company will be making a cash payment of Rs 75.56 crore subject to withholding tax towards remaining portion of the consideration payable to MCPL.

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