Globe Textiles Eyes BSE Direct Listing for Growth

Globe Textiles India Limited (GTIL) , a well-known textile star exporter of fabrics and garments catering to global and domestic markets for the last one decade has announced to make an application to BSE Limited (formerly known as Bombay Stock Exchange) for the direct listing of its equity shares. This strategic move underscores Globe Textile’s commitment to enhancing transparency and maximizing value for its shareholders.

A direct listing on BSE Limited gives Globe Textiles large investor access. Direct listings provide a streamlined pathway for companies to access public markets without the traditional IPO process, thereby reducing costs and administrative complexities. Furthermore, such listings promote liquidity, fostering a vibrant trading environment for listed securities.

Sustainable Growth Forecast

As per the recent submissions, Globe Textiles (India) Limited has acquired Globe Denwash Private Limited which is having environmentally friendly facility with a Zero Liquid Discharge system and partly solar generation which minimizes energy costs while using green energy and  company expects a 30% uptick in revenue and a top-line of 520 crores by 2027 on consolidated basis. The company reported revenue of Rs 399.4 crore in Dec 2023 and has a production capacity of over 2.5 lakh sq. feet where it manufactures, 36 million meters of fabric and 2.5 million bottoms per annum. It has reported robust financial results over the years with a 10-year CAGR of 13 percent in Revenue and 13 percent Net Profit.

Mr. Bhavin Parikh, Chief Executive Officer at Globe Textiles (India) Limited said, “As Globe Textiles progresses with its evaluation and potential application process for a direct listing on BSE Limited, the company remains dedicated to maintaining open communication and transparency with its stakeholders, including shareholders, employees, customers, and regulatory bodies”.

Globe Textile’s decision to explore a direct listing on BSE Limited reflects its confidence in the company's strong fundamentals, growth trajectory, and commitment to delivering sustained value to investors over the long term.