Arvind Fashions to garner nearly Rs 400 cr through a rights issue

The board has approved the rights issue of up to 3,99,79,347 equity shares of face value of Rs 4 each at an issue price of Rs 100 per equity share

Board of Directors of the branded apparel and retail company of the Arvind Group, Arvind Fashions Limited on Sunday approved re-launch of its rights issue with a revised issue size of up to Rs 399.79 crore.

Deferred earlier due to the lockdown and overall market conditions on account of the Covid-19 pandemic, the board approved the issue with a revised issue price and entitlement ratio. The issue will open on June 29 and close on July 17, 2020.

The board has approved the rights issue