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Aarvee Denims incorporates new subsidiary company

20 Nov 2017 Evaluate

Aarvee Denims has incorporated Aye Ess Spinning Mills and holds 99.99% of its paid up equity share capital. Accordingly, Aye Ess Spinning Mills has become subsidiary of the Company with effect from November 17, 2017.

However, the Company has proposed to create beneficial interest in remaining 0.01% holding of Aye Ess Spinning Mills and thereby creating Wholly Owned Subsidiary.

Aarvee Denims & Exports is engaged in business of denim manufacturing. The company is among the leading global players in the textile industry. The company manufactures denim garments such as jeans, trousers, jackets, shirts, etc. for men, women and kids. It also produces cotton garments and home textiles.

Varvee Global Share Price

61.05 -2.13 (-3.37%)
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