Textile penny stock under Rs 2 receives order worth Rs 10,13,64,000 from AL Rahmat Textiles LLC
The stock is up by 71.43 per cent from its 52-week low of Rs 1.05 per share.
On Thursday, shares of Garment Mantra Lifestyle Ltd gained 4.05 per cent to Rs 1.80 per share from its previous closing of Rs 1.73 per share. The company has a market cap of Rs 100 crore. The stock is up by 71.43 per cent from its 52-week low of Rs 1.05 per share.
Garment Mantra Lifestyle Ltd. announced that its wholly-owned subsidiary, Hylex Fashion Private Limited, has secured a significant export order valued at approximately Rs 10,13,64,000 (1.18 million USD) from AL Rahmat Textiles L.L.C., an international entity. This order is for Dress Material and Fabrics and is expected to be executed by March 31, 2026. This international contract marks a notable achievement for the company's export business.
Commenting on this development, Mr. Prem Aggarwal, Managing Director of Garment Mantra Lifestyle Limited, said: “We are proud to announce the receipt of an order from Dubai. This order marks a great start to this quarter. Award of this order positions us strategically to tap into the Middle East market, and we are confident it will create meaningful value for our customers. We remain focused on execution excellence and leveraging this momentum for sustained and inclusive growth.”
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About the Company
Garment Mantra is a company focused on fulfilling the fashion and lifestyle aspirations of the mass Indian population. The promoters of the company have extensive experience in the textile industry for over 3 decades. Garment Mantra has 3 business divisions. Firstly, Garment Mantra is engaged in the business of garment manufacturing and selling both knitted fabrics as well as knitted garments.
The shares of the company an ex-trade ratio of 39:20 rights issue (with an ex-date of April 17, 2025), saw an overwhelming response, with 47,34,45,003 equity shares subscribed against an issue size of 39,14,97,795 equity shares. This strong oversubscription reflects significant investor confidence and support in the company's vision and future growth. Before the rights issue, the shares of the company had ex-traded bonus shares in a 1:1 ratio (Ex-date was September 03, 2024).
Disclaimer: The article is for informational purposes only and not investment advice.