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Iris Clothings Completes ₹475 Million Rights Issue on Strong Demand, Consolidating Growth Plans

Updated: April 22, 2025 12:46

Image Source: YouTube
Iris Clothings Ltd has completed its ₹475 million rights issue successfully, reiterating its focus on expansion and financial soundness. The issue, which opened on March 27, 2025, and closed on April 17, 2025, was oversubscribed 1.43 times, showing strong investor support.
 
Key Highlights:
✅ Success in Oversubscription: The rights issue was bid for by 1.94 million bids, more than the initial issue of 1.35 million shares.
✅ Listing & Issue Price: The issues were priced at ₹35 per unit, listing on NSE confirmed.
✅ Growth through Expansion: The funds will be deployed to enhance working capital and for general corporate needs.
✅ Growth in Manufacturing: Iris Clothings has four manufacturing units in West Bengal, on which they plan to expand capacity.
✅ Impact on the market: Strong growth in revenues, making Iris Clothings a top player in the clothing sector, is forecasted by analysts.
 
With this lucrative rights issue, Iris Clotings Ltd is geared for further expansion, strengthening its position in India's textile sector.
 
Source: Chittorgarh, Rights Issue Details

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