Arvind Fashions rights issue fully subscribed

The issue garnered bids for 5.65 crore rights shares as against the total issue size of 3.99 crore equity shares.

Arvind Fashions' Rs 400 crore rights issue was subscribed 1.41 times. It received a bid for 5,65,73,143 equity shares. The rights issue opened on 29 June 2020 and closed on 17 July 2020.

The company offered 3,99,79,347 rights equity shares with a face value of Rs 4 each for Rs 100 each for an amount aggregating upto Rs 399.79 crore on rights basis in the ratio of 62 rights equity shares for every 91 fully paid up equity shares held by the equity shareholders on the record date on 18 March 2020. The rights issue will help the company stabilise its operations and cash flow.

Arvind Fashions is India's leading casual and denim player, a lifestyle powerhouse with a strong portfolio of fashion brands catering to consumers across sub-categories and price points.

Shares of Arvind Fashions hit a lower circuit of 5% at Rs 128.05 on Friday (17 July).

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