The Rights issue of Globe Textiles, a leading name in the textiles sector received an overwhelming response from investors and shareholders, underscoring strong investor confidence in the company’s future growth and financial strength.

The Rights issue of ₹4,504 lakhs designed to raise capital for strategic initiatives such as business expansion, R&D and strengthening working capital, saw strong investor participation. It offered a great opportunity for investors seeking stocks with good growth potential.

The oversubscription further reflects the market’s confidence in the management’s strategic vision and operational expertise in the textile industry.  The company will be using the proceeds of the Rights Issue to fuel the company's growth by adopting innovative and sustainable solutions.  With a strong presence in domestic and international markets, the company remains committed to delivering high-quality textile products and value to stakeholders.

As a dynamic and resilient player in the textile industry, Globe Textiles has consistently showcased its adaptability to market trends and its commitment to delivering sustainable performance.

Commenting on the success of the Rights Issue, Bhavik Parikh, Chairman and Managing Director of Globe Textiles stated “The successful completion of the Rights Issue stands as a testament to the trust and confidence of all stakeholders in the company. We sincerely thank our investors for their unwavering support. This initiative underscores our commitment to delivering long-term value for all stakeholders while seizing opportunities for future growth”.