Pearl Global Industries Ltd Share Price – NSE  /  BSE

Readymade Garments/ Apparells, Small Cap

Pearl Global Industries has allotted 20,45,143 equity shares to ligible Qualified Institutional Buyers at the issue price of Rs 731.00/- per equity share i.e. at a premium of Rs 726.00/- per equity share (which includes a discount of Rs 17.68 per equity share (constituting 2.36% of the floor price, as determined in terms of the SEBI ICDR Regulations) to the floor price), aggregating to Rs 1,49,49,99,533/-.

Pursuant to the allotment, the paid up equity share capital of the company stands increased to Rs 22,82,11,835/- consisting of 4,56,42,367 equity shares of Rs 5/- each.

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Based on the data available on the exchanges, HDFC MF acquired 4,47,380 equity shares of Pearl Global on the BSE and 2,42,605 shares of the company on the NSE. Both the transactions took place at an average price of Rs 731 each.

Investor Sanjiv Dhireshbhai Shah, who held a 7.56% stake in the company as of the June quarter, was identified as the seller, offloading 2,77,000 shares (0.64% equity) on the BSE.

Pearl Global Industries launched a Qualified Institutional Placement (QIP) on Monday (15 July) to raise additional funds. The floor price for the QIP has been set at Rs 748.68 per share. The company has the discretion to offer a discount of up to 5% on this floor price when determining the final issue price.

On 2 July 2024, foreign investor Abu Dhabi Investment Authority purchased 5,85,912 equity shares of the company, representing a 1.34% stake, via bulk deal on the NSE at an average price of Rs. 720.15.

As of the end of the June quarter, ace investor Mukul Mahavir Agrawal held a 3.44% stake in the company.

Pearl Global Industries is a global fashion and lifestyle company specialising in the design, manufacture, and distribution of apparel. Its revenue structure is primarily export based. Its key global clientele include GAP, Kohl’s, Inditex, PVH, Macy's, Ralph Lauren, Old Navy, Muji, Talbots among others.

On a consolidated basis, net profit of Pearl Global Industries declined 1.12% to Rs 51.35 crore on 20.20% increase in net sales to Rs 877.37 crore in Q4 March 2024 over Q4 March 2023.

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Pearl Global Industries announced that the 35th Annual General Meeting (AGM) of the company will be held on 25 July 2024.

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Net profit of Pearl Global Industries declined 1.12% to Rs 51.35 crore in the quarter ended March 2024 as against Rs 51.93 crore during the previous quarter ended March 2023. Sales rose 20.20% to Rs 877.37 crore in the quarter ended March 2024 as against Rs 729.95 crore during the previous quarter ended March 2023.

For the full year,net profit rose 17.14% to Rs 174.83 crore in the year ended March 2024 as against Rs 149.25 crore during the previous year ended March 2023. Sales rose 8.79% to Rs 3436.15 crore in the year ended March 2024 as against Rs 3158.41 crore during the previous year ended March 2023.

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