Celebrity Fashions to raise up to Rs 10 cr via preferential issue

The company's board has approved the issue of up to 47.64 lakh shares on a preferential basis at Rs 21.08 each.

Celebrity Fashions will allot 23,81,832 preferential shares each to two foreign portfolio investors, Citrine Fund and Arial Holdings 1, the company said in an exchange filing.

Shareholders' approval will be sought through postal ballot (e-voting) for the said preferential issue of securities.

Celebrity Fashions is a garment exporters with the capability to manufacturing the largest number of trousers in the country. The company also has its own premier menswear brand.

Net profit of Celebrity Fashions declined 15.82% to Rs 2.50 crore on 1.81% decline in net sales to Rs 95.22 crore in Q3 December 2022 over Q3 December 2021.

Shares of Celebrity Fashions dropped 8.79% to settle at Rs 15.05 on Monday, 13 February 2023.

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