Globe Textiles (India) Limited — Updates, 14-01-2025: Press Release

Globe Textiles (India) Limited has received in-principle approval for its Rights Issue, aiming to raise up to ₹4,504 crore to support strategic investments in R&D, product development, and market expansion. The rights equity shares will be offered at ₹3 each, with eligibility for shareholders holding two fully paid-up equity shares. The Rights Issue opens on January 24 and closes on February 6, with a record date set for January 17.

In its latest financial results, Globe reported a 102.20% increase in net profit to ₹380.76 crore for Q2 FY24-25, compared to ₹188.31 crore from the same period last year, alongside a 35.12% rise in revenue. The company is positioning itself for sustained growth by leveraging strategic initiatives, aiming to bolster its operational capacity and promote long-term value. This opportunity allows investors to enhance their shareholding at an attractive price, reflecting the company’s commitment to responsible growth and financial resilience. Positive outlook as Globe strengthens its market position and growth prospects.