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 lowered the
issue price to Rs 100 per share from Rs 150 earlier. The issue will open on June 29, and close on July 17.
The company announced the ratio would be 62 equity shares for every 91 equity shares held.
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.