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Arvind to consider raising Rs 500 cr through NCDs
10 May '16
1 min read
Textiles conglomerate Arvind Ltd will consider raising up to Rs 500 crore by issuing non-convertible debentures (NCDs).
“A meeting of the Board of Directors of the company will be held on May 12, 2016, inter alia to consider the matter regarding fund raising options available to the company by way of issue of NCDs up to Rs 500 crore on a private placement basis subject to approval of shareholders,” Arivnd Ltd said in a regulatory filing to the BSE.
The Ahmedabad head quartered company manufactures cotton shirting, denim and knit fabrics. It is one of the largest producers and exporters of denim, both within India and globally. The company has also ventured in to technical textiles through its Advanced Materials Division.
Arvind also produces garments under brands such as Flying Machine, Colt and Excalibur. It also has retail brands such as Megamart, Next and Club America. Further, it sells products of several well-known global brands including Arrow, Elle and US Polo Assn. (RKS)
Fibre2Fashion News Desk – India
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