Tamil Nadu-based textile penny stock below Rs 2: Company receives order worth Rs 1,19,00,000 from Ministry of Ayush, Government of India
The stock is up by 73.33 per cent from its 52-week low of Rs 1.05 per share.
On Tuesday, shares of Garment Mantra Lifestyle Ltd gained 2.25 per cent to Rs 1.82 per share from its previous closing of Rs 1.78 per share. The company has a market cap of Rs 100 crore. The stock is up by 73.33 per cent from its 52-week low of Rs 1.05 per share.
Garment Mantra's wholly-owned subsidiary, Hylex Fashion Private Limited, has secured a domestic order from the Ministry of Ayush, Government of India. The contract, valued at approximately Rs 1,19,00,000 (inclusive of taxes), is for the supply of 50,000 Walind T-shirts. Hylex Fashion Private Limited is expected to execute this order by June 24, 2025.
Commenting on this development, Mr. Prem Aggarwal, Managing Director of Garment Mantra Lifestyle Limited, said, "We are proud to announce the receipt of our very first order from the Government of India—an important milestone in Garment Mantra Lifestyle’s growth journey. This development marks a significant recognition of our capabilities and underscores the trust placed in us as a reliable partner for large-scale, institutional supply." "This achievement positions us strategically to tap into additional government procurement opportunities, and we are confident it will create meaningful value for our stakeholders. 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.