Active Clothing Co Limited a design-to-shelf apparel platform specialising in flat-knitted sweaters, jackets and circular-knitted garments for global fashion brands, has announced that its board has approved a Rs 323 crore fund raise through a preferential issue of warrants.

The board has cleared the issuance of up to 20 lakh warrants, each convertible into one fully paid-up equity share of face value Rs 10, at an issue price of Rs 115 per warrant, payable in cash. The proposed issue aggregates to a total amount of up to Rs 323 crore.

The preferential allotment will be made to promoters, members of the promoter group, and non-promoter investors. Of the total warrants proposed, 50% will be allotted to the promoters and promoter group, while the remaining 50% will be allotted to non-promoter investors.

The company said the funds raised through the warrant issue will strengthen its capital base, enhance financial flexibility and support its growth and expansion plans, while creating long-term value for stakeholders.

Commenting on the development, Mr. Rajesh Mehra, Managing Director, Active Clothing Co Limited, said the preferential issue is a strategic step to reinforce the company’s balance sheet and support the next phase of growth, enabling it to pursue expansion opportunities while continuing to serve global customers.