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Safari Industries (India) Limited ( (IN:SAFARI) ) has shared an update.
Safari Industries (India) Ltd’s board has approved raising up to Rs 500 crore via a qualified institutions placement of equity shares with a face value of Rs 2 each, subject to shareholder approval. The capital infusion is expected to strengthen the company’s balance sheet and support future growth plans, potentially enhancing its competitiveness in the domestic luggage market.
The board also recommended a five-year reappointment of Managing Director Sudhir Jatia from April 18, 2026, to April 17, 2031, ensuring continuity of leadership that has guided the business since its acquisition in 2012. Additionally, Company Secretary and Compliance Officer Rameez Shaikh has resigned to pursue external opportunities and will be relieved from his roles effective close of business on April 17, 2026, prompting an impending change in the company’s governance team.
More about Safari Industries (India) Limited
Safari Industries (India) Ltd is a Mumbai-based luggage and travel accessories company, best known for its Safari-branded bags and suitcases. The company focuses on the Indian luggage market, where it has built a strong presence over more than three decades through its products and brand positioning.
Average Trading Volume: 3,485
Technical Sentiment Signal: Buy
Current Market Cap: 104.1B INR
For detailed information about SAFARI stock, go to TipRanks’ Stock Analysis page.