VIP Clothing has filed the draft letter of offer for rights issue with the Securities and Exchange Board of India (SEBI), BSE and National Stock Exchange of India (NSE) on July 31, 2017.
Earlier, the company had received an approval for raising funds by issue of equity shares to the existing shareholders of the company on a rights basis (Rights Issue) amounting up to Rs 50 crore, subject to all applicable statutory and regulatory approvals. The board of directors at its meeting held on April 22, 2017 had approved for the same.
VIP Clothing (formerly Maxwell Industries) is leading Indian company engaged in manufacturing and marketing of innerwear. They are well-known manufacturers of brands like VIP Innerwear, Frenchie, Frenchie X, and VIP Feelings and all of their sub brands.
