- Arvind rises on divesting 10% stake in Arvind Lifestyle Brands for Rs 740 crore
- Arvind is currently trading at Rs. 409.10, up by 5.50 points or 1.36% from its previous closing of Rs. 403.60 on the BSE.
- The scrip opened at Rs. 405.00 and has touched a high and low of Rs. 412.30 and Rs. 400.00 respectively. So far 2,78,000 shares were traded on the counter.
- The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 407.80 on 25-Oct-2016 and a 52 week low of Rs. 235.90 on 29-Feb-2016.
- Last one week high and low of the scrip stood at Rs. 409.95 and Rs. 346.20 respectively. The current market cap of the company is Rs. 10,546.00 crore.
- The promoters holding in the company stood at 43.76%, while Institutions and Non-Institutions held 38.70% and 17.53% respectively.
- Arvind, one of India’s largest integrated textile and apparel companies, has divested 10% stake in its brand business subsidiary Arvind Lifestyle Brands to Multiples, the private equity firm founded by Renuka Ramnath. At an enterprise value of Rs 8,000 crore, the deal is valued at Rs 740 crore which would be used by the company to reduce its debt. Post this deal, effective November 2016, the overall debt on the group level of the conglomerate would decline to Rs 2,500 crore.
- Arvind’s brand portfolio is among the strongest in India and has many power brands that have growth at a phenomenal pace. The unmatched portfolio includes global marquee brands such as Calvin Klein, Tommy Hilfiger, US Polo Assn, Ed Hardy, Hanes, Arrow, Gant and Nautica among others.
- Arvind is India’s largest integrated textile player and is one of the oldest and most respected groups in the Textile Business in India. The company is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.
