Arvind Fashions Approves Rights Challenge At Rs 135/Share
On Thursday, the board of Arvind Fashions Ltd accredited the problem of 1,48,02,856 fairness shares of the face worth of Rs four every at a problem worth of Rs 135 per fairness share (together with a premium of Rs 131 per fairness share) for an quantity aggregating as much as Rs 199.84 crores to all the prevailing fairness shareholders of the corporate on a rights foundation.
Rights shares will likely be allotted within the ratio of three:20, that’s three Rights Fairness Shares of Rs four every for each 20 fairness shares of Rs four every held by the fairness shareholders within the firm as on the report date (“Eligible Fairness Shareholders”) with the proper to resign.
The report date will likely be introduced in the end, the corporate mentioned.
The report date for the aim of figuring out names of shareholders of the Firm eligible to use for the partly paid-up Rights Fairness Shares within the Rights Challenge of the Firm will likely be introduced in the end together with Worldwide Securities Identification Quantity (“ISIN”) of Rights Entitlements.
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