Home / BUSINESS / Garment Mantra Lifestyle zooms on acquiring 83.80% stake in Jannat Fabrics and Apparels

Garment Mantra Lifestyle zooms on acquiring 83.80% stake in Jannat Fabrics and Apparels

Garment Mantra Lifestyle is currently trading at Rs. 57.05, up by 2.05 points or 3.73% from its previous closing of Rs. 55.00 on the BSE.

The scrip opened at Rs. 57.00 and has touched a high and low of Rs. 57.55 and Rs. 55.00 respectively. So far 7177 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 76.75 on 21-Oct-2020 and a 52 week low of Rs. 26.01 on 24-Dec-2019.

Last one week high and low of the scrip stood at Rs. 61.50 and Rs. 55.00 respectively. The current market cap of the company is Rs. 55.21 crore.

The promoters holding in the company stood at 49.14% and Non-Institutions held 50.86%.

Garment Mantra Lifestyle has acquired 83.80% stake in Jannat Fabrics and Apparels. The management is expecting to acquire 100% stake in next few months to make it wholly owned subsidiary of Garment Mantra. This will help the company in running entire textile value chain from supplying yarn / fabric to the mills for knitting, dyeing, printing, compacting factories and into retailing as well. Moreover, it will improve operational efficiency and reduce operational overhead within the group.

Garment Mantra Lifestyle (formerly Junction Fabrics and Apparels) is engaged in the business of garment manufacturing and selling both Knitted Fabric as well as Garments. Its range of garment products covers all the age group segments such as kids wear, mens wear, ladies wear, boys & girls wear.

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