Textiles firm Arvind Ltd today said its board will meet next week to consider raising up to Rs 500 crore through issuance of non convertible debentures (NCDs).
At the meeting, to be held on May 11, "the Board will inter alia consider the matter regarding fund raising options available to the company by way of issue of non convertible debentures up to Rs 500 crore on a private placement basis", Arvind Ltd said in a filing to BSE.
The fund raising plan will be subject to shareholders' approval, it added.
Arvind Ltd's stock closed 2.51 per cent higher at Rs 419.25 on BSE.
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