Lorenzini Apparels Ltd.(BSE: 540952, NSE: LAL), a prominent player in the realm of manufacturing, designing, and marketing readymade garments, has announced that it its board has approved the conversion of 1,48,340 warrants into 14,83,400 equity shares of face value of Rs. 1/- each, out of the 10,38,371 warrants allotted on October 5, 2023 on preferential basis, upon receipt of an amount aggregating to Rs. 2.25 Cr for warrants from the Orchard Road Properties Private Limited/
Recently, the company had approved the conversion of 2,47,230 warrants into 2,47,23,00 equity shares of face value of Rs. 1/- each, out of the 10,38,37,10 warrants allotted on October 5, 2023 on preferential basis, upon receipt of an amount aggregating to Rs. 3,74,99,846.4 (being 75% of the issue price per warrant) from Kiwi Dealcom Private Limited.
Earlier, the company announced its earnings for the year ended 31 March 2024. The revenue from Operations stood at Rs. 54.76 Crores, and the EBITDA came in at Rs. 10 Crores, growth of 29% YoY. PAT more than doubled, growing from Rs. 2.52 Crores (FY23), to Rs. 5.30 Crores (FY24).
Lorenzi Apparels Ltd. is a prominent player in the realm of manufacturing, designing, and marketing readymade garments, catering to the diverse fashion needs of both men and women. With a comprehensive array of formal, semi-formal, and casual wear, it prides itself on delivering quality attire that resonates with contemporary trends and timeless styles. Operating through retail outlets and e-commerce platforms, the company ensures accessibility and convenience for its clientele.