In a strategic move, Arvind Fashion experienced a significant surge of 11.4 percent in its shares after entering into a share purchase agreement with Reliance Beauty & Personal Care.
The deal entails the acquisition of Arvind Beauty Brands by Reliance Beauty & Personal Care, a wholly owned subsidiary of Reliance Retail Ventures.
Under the agreement, Arvind Fashions will sell and transfer its entire equity stake in Arvind Beauty Brands to Reliance Beauty & Personal Care for a total purchase consideration of Rs 99.02 crore.
This development marks a pivotal step in the company’s strategic restructuring and expansion plans within the fashion and beauty sectors.
At 2:22 p.m., shares of Arvind Fashions were actively trading at Rs ₹349.65 apiece on the National Stock Exchange (NSE), reflecting a notable increase of 7.58 percent from the closing price of the previous session.
