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Ashapura Intimates stock in free fall even as company's MD goes missing

IIFL group owns 30% in the firm after transferring pledged shares

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Last Updated : Oct 11 2018 | 2:17 AM IST

Shares of Mumbai-based innerwear Ashapura Intimates Fashion are in a free fall, while Chairman and Managing Director Harshad Thakkar has gone missing.

In the past two weeks, the stock has crashed more than 60 per cent and continues to hit lower circuit on the bourses everyday.

On Wednesday, shares of the company closed at Rs 171, valuing the company at Rs 4.3 billion. A month ago, the stock traded at Rs 445.

“This is to inform you that a missing person complaint has been filed with the Mumbai Police by the family of our managing director. The complaint is being presently investigated,” the

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