Mumbai, 9 February 2021 (GPN):  Pursuant to its board of directors meeting held on 8 February, SVP Global Ventures Ltd, one of the largest compact cotton yarn manufacturers in the world has considered and declared an interim dividend of 5 paise per equity share of face value of Rs 1/- each representing 5% of paid up capital for the financial year 2020-2021. Additionally, the company has declared an interim dividend of 50 paise per preference share to preference shareholders who hold 5% redeemable preference shares of face value of Rs 10 each.

Recently the company announced its intension to raised Rs 235 Crs through the issue of 2,23,80,952 Convertible Equity Warrants at an issue price of Rs 105 per equity share to its parent company, Shri Vallabh Pittie Ventures Private Ltd. The objective of the fund raise was to strengthen the capital structure of the company. The company reported a 210% increase in its QoQ Consolidated PAT and 55% increase in its EBITA in its Q3FY21 results.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

About SVP Global Ventures :

Shri Vallabh Pittie Group (SVP Group) established in 1898 by late Shri Vallabh Pittie, as a textile trading house, has now become one of the largest compact cotton yarn manufacturers in the world. SVP Global Ventures Ltd, the wholly owned subsidiary of the group, is headquartered in Mumbai and is primarily engaged in the business of manufacturing polyester, polyester & cotton blend, and 100% cotton yarn across  state-of-the-art manufacturing facilities in Jhalawar, Rajasthan, Ramnad, Coimbatore and Sohar, Oman. The company expanded its manufacturing operations in 2017 by setting up and starting commercial operations from state of the art, most modern and automated, 150,000 spindles and 2,400 rotors cotton yarn manufacturing facility in Jhalawar, Rajasthan. Further, between 2018-2019 it commenced set up and commercial operations of a  manufacturing unit of 3500 rotors and 150,000 spindles in Oman. As on date the company has an aggregate manufacturing capacity of 4,00,000 spindles and 5900 rotors in India and Oman and has 2 international offices based in US, Georgia and Europe, Lithuania and currently exports to China, Bangladesh, Pakistan, Vietnam, Portugal and Turkey.