The Board of Directors of Arvind Fashions Ltd has, at its meeting held on today, considered and approved, the revision in the size of the Rights Issue from up to Rs. 299.64 Crores up to Rs. 399.79 Crores.
The board also approve revision in the issue price of the Rights Issue from Rs. 150 per Rights Equity Share to Rs. 100 per Rights Equity Share (including premium of Rs. 96 per Rights Equity Share) and consequently, revised rights entitlement ratio of 62 (Sixty Two) Rights Equity Shares for every 91 (Ninety One) Equity Shares of the Company held by eligible equity shareholders as on the Record Date, i.e., March 18, 2020 pursuant to relaxation granted by SEBI.
The issue opens for subscription on Monday, June 29, 2020 and closes on Friday, July 17, 2020.
The last date for on market renunciation of rights entitlements is Monday, July 13, 2020 and the last date for off market renunciation of rights entitlements is Thursday, July 16, 2020.
The eligible equity shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the renouncees on or prior to the issue closing date.
