Latest News | Arvind Fashions to Raise Rs 200 Cr Via Rights Issue

New Delhi, Feb 18 (PTI) 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)