On the 8th of July 2024, Garment Mantra Lifestyle Ltd will convene a meeting of the Board of Directors to deliberate and sanction a proposal for the issuance of Bonus shares to the company’s equity shareholders. This proposal is contingent upon the approval of the Shareholders. Additionally, the meeting will address the augmentation of the Company’s Authorised Share Capital and subsequent modification in the Capital Clause of Memorandum of Association of the Company.
Consequently, the Trading Window for dealing in securities of the Company will be closed from the close of business hours of June 19, 2024, until 48 hours after the conclusion of the board meeting, specifically until the end of the day on July 10, 2024.
Garment Mantra Lifestyle Ltd is engaged in the manufacturing and supply of knitted fabric and garments, catering to all age groups, including kids wear, men’s wear, ladies wear, boys and girls wear.
The company is committed to fulfilling the fashion and lifestyle desires of the Indian population at large. With over 30 years of experience in the Textile Industry, the company’s promoters have positioned Garment Mantra as a leader in the industry. The company operates under three business divisions. Firstly, it is engaged in garment manufacturing and selling of both Knitted Fabrics and Knitted Garments, with manufacturing facilities located in Tirupur, known as the “Knit City of India”. The company offers a wide range of around 5,000 products that cater to the mass market, which constitutes about 70% of the domestic population. Its products are available across India through an extensive network of wholesalers and distributors.
Garment Mantra Lifestyle Ltd places great importance on providing affordable products without compromising on quality. The company has developed unique business models that are expected to drive revenue and growth. One such model is the Poorti & Full Choice wholesale and retail textile surplus model, which involves sourcing textile surplus from wholesalers and retailers across the country, as well as international markets. The majority of this business is conducted with small unorganized players who have limited access to larger markets, both domestic and international. In contrast, Garment Mantra Lifestyle Ltd has a strong and extensive network across various markets, offering a Cash and Carry system with a tokenized approach.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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First Published: Jun 19 2024 | 4:45 PM IST