Arvind gains as its arm concludes divestment of 10% stake in Arvind Lifestyle Brands for Rs 740 crore

21 Nov 2016 Evaluate

Arvind is currently trading at Rs. 342.85, up by 1.10 points or 0.32% from its previous closing of Rs. 341.75 on the BSE.

The scrip opened at Rs. 342.00 and has touched a high and low of Rs. 349.00 and Rs. 339.85 respectively. So far 85311 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 423.60 on 01-Nov-2016 and a 52 week low of Rs. 235.90 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 374.00 and Rs. 322.90 respectively. The current market cap of the company is Rs. 8829.42 crore.

The promoters holding in the company stood at 43.76%, while Institutions and Non-Institutions held 38.70% and 17.53% respectively.

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.

Arvind Share Price

95.95 1.20 (1.27%)
29-Sep-2022 18:01 View Price Chart
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