Arvind’s wholly owned subsidiary - Arvind Fashions, has completed the transaction of Arvind Lifestyle Brands and raised equity capital of Rs 740 crore 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 8,000 crore for company’s branded apparel business.
Earlier in October, the company had divested 10% stake in its brand business subsidiary Arvind Lifestyle Brands to Multiples, the private equity firm founded by Renuka Ramnath.
Arvind is India’s largest integrated textile player and is one of the oldest and most respected groups in the Textile Business in India. The company is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.