Jindal Worldwide Approves Up to ₹650 Crore Rights Issue Aiming for Debt-Free Status by FY27
Jindal Worldwide Limited, an established integrated textile company based in Ahmedabad, announced that its Board of Directors has approved a significant strategic move: issuing a Rights Issue of up to ₹650 crore (Rupees Six Hundred Fifty Crore) to existing shareholders. This decision marks a pivotal step aimed at transforming the financial structure of the Company.The funds raised through the Rights Issue are specifically earmarked to strengthen Jindal Worldwide Limited’s balance sheet, supporting the management's ambitious goal to achieve debt-free status by Fiscal Year 2027 (FY27). To facilitate this large-scale capital raise, the Board has...