Leading Indian textile giant Arvind Ltd. will raise up to Rs. 200 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.
The company’s board will consider a proposal to raise funds in a meeting on 26 May, Arvind Ltd. said in a BSE filing.
This would be subject to the approval of shareholders, it added.
The board will also consider financial results for the quarter and year ended 31 March 2021, in the meeting.
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In a statement, the company said, “We hereby inform you that at the said meeting, the board will also consider the matter regarding fundraising options available to the company by way of issuing NCDs up to Rs. 200 crore on private placement basis.”
From denim fabric manufacturing to retailing of many brands, Ahmedabad-based Arvind Ltd. is one of the top Indian textile companies.
