Arvind would conduct a court convened shareholders' meeting to discuss demerger of realty business on January 7, 2014. The largest integrated textile and branded apparel player from Gujarat - Arvind -has decided to demerge it's real-estate business and transfer it to the company's wholly owned subsidiary Arvind Infrastructure (AIL).
AIL, manages 11 real-estate projects in Ahmedabad and Bangalore with 5.3 million square feet over 360 acres of land. The demerger will allow Arvind to deploy its resources fully in its core activities and allow AIL to raise further capital and debt as required for its growth.
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.
