This acquisition will enable Filatex to have access to some European Markets where Isabella has operations.
To help fund the acquisition, the company will issue preference shares. It plans to use internal accruals to meet the total fund requirements.
The company was in the process of increasing its capacity from 7 million to 30 million socks per year. It is planning to infuse about Rs350 crore in its expansion plans, which also includes foraying into tracksuits and t-shirts.
The company also unveiled its plans to import 500 machines for its socks business.
At around 2.16 PM, Filatex Fashions was trading at Rs24.30 down by Rs0.3 or 1.22% from its previous closing of Rs24.60 on the BSE. The scrip touched intraday high and low of Rs25 and Rs23.70 respectively.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.