Arvind Fashions soars 10% on raising Rs 439 crore from marquee investors

With this fundraise, the company completes the capital requirement needed for growth and navigating any uncertainties

Shares of Arvind Fashions hit a 52-week high of Rs 263.50 as they rallied 10 per cent on the BSE in intra-day trade on Monday after the company’s board approved the preferential allotment of equity shares aggregating to Rs 439 crore to various marquee investors, including promoters at the price of Rs 218.50.  In the past eight trading days, the stock of the country’s leading casual and denim player has rallied 33 per cent on the BSE.

“The marquee investors who participated in the fundraise are Akash Bhanshali, existing shareholders including ICICI Prudential Mutual Fund, various foreign institutional investors (including University