How Arvind Fashions is gearing up to raise Rs 200 crore

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Arvind Fashions on Thursday said its committee of directors has approved raising around Rs 200 crore through a rights issue.

“The committee of directors of the company has approved the issue of 1,48,02,856 partly paid-up equity shares of face value of Rs 4 each at an issue price of Rs 135 per equity share for up to Rs 199.84 crore to all the existing equity shareholders of the company on a rights basis,” Arvind Fashions said in a regulatory filing.

The rights entitlement ratio is three rights equity shares for every 20 equity shares in the company, it said.

Shares of Arvind Fashions were trading 2.55 per cent higher at Rs 166.95 apiece on the BSE.

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