Arvind Fashions to raise Rs200cr on rights basis; stock climbs 2.5%

The company approved the issue of ~1.48cr paid-up equity shares of the face value of Rs4 each at an issue price of Rs135per equity share.

Feb 18, 2021 11:02 IST India Infoline News Service

Arvind Fashions Limited on Thursday has approved the issue of ~1.48cr paid-up equity shares of the face value of Rs4 each at an issue price of Rs135per equity share (including a premium of Rs131 per equity share) for an amount aggregating up to Rs199.84cr to all the existing equity shareholders of the company on a rights basis.

The company also fixed the record date for the purpose of determining names of shareholders of the company eligible to apply for the partly paid-up Rights Equity Shares in the Rights Issue of the company. Record date will be announced in due course along with International Securities Identification Number.

At around 11.35 am, Arvind Fashions Ltd was trading at Rs166.70 per piece up Rs3.90 or 2.40% on the BSE.

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