Active Clothing Co to raise Rs 7.5 crore through preferential allotment of warrants

Active Clothing Co Ltd, a company specialising in sweaters, jackets, and apparel for global fashion brands plans to raise Rs 7.5 crore ($8,59,120) through sale of a preferential allotment of 5,00,000 warrants.

Each warrant is convertible or exchangeable into one fully paid-up equity share of the company at a conversion price of Rs 150 per share.

The funds raised will used to meeting operational expenses and expanding its manufacturing facility to boost production capacity.

Commenting on the fundraise, Rajesh Mehra managing director of Active Clothing Co Ltd in a statement said, “We are pleased to announce this fundraise through the preferential allotment of warrants. This initiative is not just a financial milestone, but a clear testament to the growing confidence in our ‘design-to-shelf’ business model.”

“The funds will be allocated prudently supporting our day-to-day operational expenses and driving critical capital expenditure for expanding our manufacturing capacity. This investment in our growth will further strengthen our ability to serve our clients better while delivering sustainable value to all our stakeholders,” he added.

The Punjab-based Active Clothing Co Limited is one of the leading sweaters and knitted garment manufacturing companies in India. It designs, manufactures, and distributes apparel for men, women, and kids.