By raising roughly Rs. 149.50 crore, Pearl Global Industries Limited, which is primarily involved in designing, manufacturing, sourcing, distribution, and export of ready-to-wear clothing for men, women, and children through its domestic and international manufacturing facilities and supply chains, announces the successful completion of its QIP.
A number of well-known investors participated in the Qualified Institutions Placement (QIP), including the mutual funds HDFC, Bandhan, HSBC, ICICI Prudential, Goldman Sachs, Tata, and Franklin India.
This amount will be utilised by the business for general corporate purposes, inorganic growth activities, working capital requirements, and loan repayment.
Announcing the completion of the issue, Pulkit Seth, Vice-Chairman & Non-Executive Director, said, “We are pleased to inform that our Qualified Institutions Placement (QIP) has been successfully implemented. This accomplishment highlights our shared dedication to improving our operations and services. As we move ahead, we are vigilant in monitoring our progress and sustaining our momentum with a keen focus on sustainability in all our current and future projects. Together, we will uphold our commitment to excellence, ESG principles and achieve exceptional outcomes.”
Pallab Banerjee, Managing Director, PGIL, said, “We are thrilled by the overwhelming response to the issue and deeply value the confidence our investors have placed in us. By strategically allocating these funds, we aim to strengthen our market presence, innovate our product offerings, streamline our ESG initiatives, and invest more in sustainable products and business operations. This approach will ensure sustained growth and success in a competitive market landscape”
