Arvind Fashions Ltd. Rs. 400 crore rights now fully subscribed. Arvind Fashions Ltd. rights issue policy has been closed on Thursday 17th July, 2020. The Rs. 400 crore rights issue were full subscribed.
The right offering received Rs.4.10 crore shares,higher than 3.99 crore. which was offered. Lest, the right issue shares are priced on Rs. 100 per share.
Arvind Fashions is a home to many international. And local fashion apparel brands including Tommy Hilfiger. As well as US Polo Assn., Arrow, GAP,Flying Machine, Aeropostale, The Children’s Place and Ed Hardy.
But, on Thursday, Arvind Fashion closed at Rs. 134.75 a peice.
Also, Arvind Fashion will use Rs. 50 crore for repayment/prepayment of loans.250 crore will be used in Arvind Lifestyle Brands Ltd. The rest will be used for corporate purpose.
However, earlier this month Flipkart bought minor stakes in the company’s Arvind Fashion Youth brand for Rs. 260 crore.
