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Filatex Fashions Ltd to issue foreign currency convertible bonds

Filatex Fashions Ltd to issue foreign currency convertible bonds

Filatex Fashions Ltd to issue foreign currency convertible bonds
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By CNBCTV18.COMOct 28, 2022 12:08:18 AM IST (Updated)

Filatex Fashions Ltd has informed the exchange that its board has approved raising of funds through issuance of Foreign Currency Convertible Bonds (FCCBs) not exceeding $100 mn on private placement basis.'

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Also, the board has approved expansion and strengthening of the existing business in the manufacture of premium quality socks by capacity enhancement/ further modernization/ and expansion into production of other garments and allied products.
Filatex Fashions is a supplier of socks of various sizes and designs to reputed companies and brands like Maxwell (VIP Group), Fila India, Adidas, Park Avenue, Tommy Hilfiger, Metro etc. Filatex has also been producing socks for the license holders like Walt Disney, Warner Brothers, Planet, Mickey Mouse, Simpsons and 32 other licentiates.
Other brands include Bella, etc.
The company is also major supplier to E-commerce giants like Amazon, Flipkart, Snapdeal, Shop clue etc. The company not only delivers quality products to above brands, but also have its own brand “Tuscany” ; “Smartman” which are getting good traction from consumers in India.
The company has also produced for other reputed brands like Mark & (Spence), Hugo Boss, Giovanni, Primavera and many top labels of the European fashion world
The company is on expansion spree and is looking for both organic and inorganic growth opportunities, more particularly in other developing countries including Indian subcontinent and Africa.
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