Tuesday, July 7

Arvind Fashions raises issue price to Rs 150, to raise Rs 400 cr via rights

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Mumbai: Arvind Fashions has revised the amount it intends to raise from its rights issue to nearly Rs 400 crore, from nearly Rs 300 crore earlier.

In an exchange filing on Sunday, the branded apparel company said it has raised its issue price to Rs 150 per share from Rs 100 earlier. The issue will open on June 29, and close on July 17.

Arvind Fashions has a portfolio of branded apparel brands under its roof such as Calvin Klein, Tommy Hilfiger, US Polo Assn, Ed Hardy, Hanes, Arrow, Gant and Nautica.

On Friday, the stock closed 0.95 per cent lower at Rs 182.15 on the BSE. Despite rallying nearly 50 per cent over last month, the stock is still down 53.6 per cent for the year to date.

Source: ET Markets

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