Arvind Fashions has received approval from committee of directors to raise around Rs 200 crore through a rights issue. The committee of directors of the company has approved the issue of 1,48,02,856 partly paid-up equity shares of face value of Rs 4 each at an issue price of Rs 135 per equity share for up to Rs 199.84 crore to all the existing equity shareholders of the company on a rights basis. The rights entitlement ratio is three rights equity shares for every 20 equity shares in the company.
Arvind Fashions, the Lalbhai Group's fastest-growing retail arm that was carved out in recent restructuring.
