With reference to the earlier letter dated October 25, 2016, Arvind has now informed that Arvind Fashions, a wholly owned Subsidiary of the Company, has completed the transaction and raised equity capital of Rs 740 crores pursuant to Share Subscription and Shareholders Agreement dated October 25, 2016 signed with three funds managed by Multiples. The transaction was done at overall enterprise valuation of Rs 8000 crores for Company’s branded apparel business.
The above information is a part of company’s filings submitted to BSE.
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