On September 2022, Bombay Dyeing and Manufacturing Company Limited’s board plans to fundraise through the rights issues. The company said that the Board of Directors (BOD) on September 22 would be considering a proposal to raise funds by the issue of equity shares on a rights issue basis.

The shares of the Bombay Dyeing and Manufacturing Company spiked on September 20 after the company informed that its Board of Directors would meet later this week to deliberate on raising funds by way of a rights issue.

“A meeting of the Board of Directors will be held on Thursday, September 22, for considering, among other things, the proposal of raising of funds by the issue of equity shares following the way of a rights issue for eligible shareholders,” the company said in a statement. The issue will have proceeded to regulatory or statutory approvals and other incidental or related matters. The stock, which rose 7.41 per cent to Rs 108 on the BSE, was down nearly three per cent this year.

Earlier this month, the Net Sales at Rs 606.37 crore in June 2022 were up 59.21 per cent from Rs 380.85 crore in June 2021. The Quarterly Net Loss at Rs 76.85 crore in June 2022 was up 28.82 per cent from Rs 107.97 crore in June 2021. EBITDA stands at Rs 52.68 crores in June 2022, up 203.98 per cent from Rs 17.33 crore in June 2021. Bombay Dyeing shares were closed at 100.60 on August 08, 2022, on the NSE and have given -16.03 per cent returns over the last six months and 2.50 per cent over the last 12 months.