Apparels and textiles firm Arvind is planning to increase its borrowing limit to Rs 5,000 crore in order to fund expansion activities as well as for future business requirements. The company for this will be seeking its shareholder’s approval at Annual General Meeting (AGM) which is to be held on July 30, 2014.
The company’s current borrowing limit is Rs 3,000 crore, which was approved in the AGM held on September 30, 2006.
Arvind has a portfolio of 12 of its own brands. It also runs the country’s largest value retail chain Megamart and the UK-based department store chain Debenhams, and the apparel specialty retail chain Next. Arvind has over 1.3 million square feet of retail space across various brands.
