CTM decides to invest Rs30mn in Stitchrite Private Limited

MG News | November 24, 2022 at 02:00 PM GMT+05:00

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November 24, 2022 (MLN): The board of directors of Colony Textile Mills Limited (CTM) has approved an equity investment of up to Rs30 million in its wholly-owned subsidiary Stitchrite (Private) Limited, the CTM’s stock filings on the stock exchange showed on Thursday.

In the filing company stated, “CTM will invest through subscribing the 3mn shares of Rs10 per each against the right offer made by Stitchrite Private Limited”.

At the time of writing, the scrip of the company is being traded at Rs3.25 which is down by Rs0.07 or 2.11% DoD.

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