Arvind Fashions Ltd board approves 3:20 rights issue at Rs. 135

The Committee of Directors of Arvind Fashions Ltd has, at its meeting held today, 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 (including premium of Rs. 131 /- per Equity Share) for an amount aggregating up to Rs. 199.84 Crores to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

Rights shares will be allotted in ratio of 3(Three) Rights Equity Shares of Rs. 4/- each for every 20 (Twenty) Equity Shares of Rs. 4/- each held by the equity shareholders in the Company as on the record date ("Eligible Equity Shareholders") with the right to renounce.

The record date for the purpose of determining names of shareholders of the Company eligible to apply for the partly paid-up Rights Equity Shares in the Rights Issue of the Company will be announced in due course along with International Securities Identification Number ("ISIN") of Rights Entitlements.

Source : Equity Bulls

Keywords