Arvind Fashions revises the plan, Will raise Rs 399 crore through rights

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Leaders in textile manufacturing Arvind Fashions on Sunday said, “It has revised the amount of capital it plans to raise through the right of an issue from Rs 299.64 crore to Rs 399.79 crore.”

In the filing at the BSE, the company said, “The Board of Directors at its meeting held on June 21, 2020, has revised the Issue size up to Rs 399.79 crores from existing Rs 299.64 crores.”

“The board has approved the issue of up to 3,99,79,347 equity shares of the face value of Rs 4 each at an issue price of Rs 100 per equity share (including a premium of Rs 96 per right equity share),” the filing in the stock exchange said.

“The revised rights entitlement ratio of 62 (Sixty Two), Right Equity Shares of every 91 (Ninety One) equity shares of the company held by eligible equity shareholders as on the Record Date i.e. March 18, 2020, under relaxation granted by SEBI vide its letter bearing no: SEBI/HO/CFD/DILII/ADM/RP/OW/ 2020/10767 date June 05, 2020,” the company said.

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