Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Safari Industries (India) Limited ( (IN:SAFARI) ) just unveiled an update.
Safari Industries (India) Ltd’s board has approved raising up to Rs. 500 crore through a Qualified Institutions Placement of equity shares with a face value of Rs. 2 each, subject to shareholder approval. The planned fundraising is expected to strengthen the company’s capital base and support its growth ambitions in the competitive luggage market.
The board has also recommended the re-appointment of promoter Sudhir Jatia as managing director for a further five-year term from April 18, 2026 to April 17, 2031, subject to shareholder approval, reinforcing continuity in leadership. Separately, company secretary and compliance officer Rameez Shaikh has resigned to pursue other opportunities and will be relieved from his duties at the close of business on April 17, 2026, prompting an impending key governance role transition.
More about Safari Industries (India) Limited
Safari Industries (India) Ltd operates in the luggage and travel accessories industry, manufacturing and marketing suitcases, bags and related products for Indian consumers. The company focuses on the domestic market and has grown under the leadership of promoter-management with long-standing experience in the Indian luggage segment.
Average Trading Volume: 3,485
Technical Sentiment Signal: Buy
Current Market Cap: 104.1B INR
For an in-depth examination of SAFARI stock, go to TipRanks’ Overview page.