Arvind Fashions approves Rs 200 crore funds via rights issue

The committee of directors of Arvind Fashions has approved an initiative to raise Rs 200 crore funds through a rights issue. The committee of directors approved the issue of 14,802,856 partly paid-up equity shares having a face value of Rs 4 each.

The issue price of these shares is Rs 135 per equity share for up to Rs 199.84 crore for all the existing equity shareholders of the company on a rights basis.

The rights entitlement ratio is three rights equity shares for every 20 equity shares in the company. One of the most valuable lifestyle powerhouses, Arvind Fashions has redefined the retail and fashion industry in India. Having a dynamic portfolio of over 27 leading global brands in India, the company offers something for everyone. It has around 1,300 stand-alone stores and 5,000 departmental and multi-brand stores across India. Its dominance in the fashion space is backed by an extremely efficient warehousing and distribution system.