Arvind Shines Bright On The Thriving Industry Arvind, the textiles and branded apparel major on Monday (21st november 2016) said that it has raised Rs 740 crores from the market by diluting stake in subsidiary - Arvind Fashions Limited. In a regulatory filing to the Bombay Stock Exchage, the company declared that it has completed the transaction and also raised the amount from Multiples, a private equity firm. The Company further added that Arvind Fashions Ltd, a wholly owned subsidiary of the company, has completed the transaction and raised equity capital of Rs 740 crore pursuant to share subscription and shareholders Agreement dated 25th October, 2016 signed with three funds managed by Multiples. The transaction was carried out at overall enterprise valuation of Rs 8,000 crores for company's branded apparel business. On 25th October 2016, Arvind had informed that its board had approved the fund raising of Rs 740 crores by diluting 10 per cent stake in Arvind Fashions. Arvind is the largest integrated textile and apparel firm and in Financial Year 2016, it had a revenue of Rs 5,407.26 crores.
The industry at a glance India has shown great progress in the textile, automotive and telecommunication sectors, said the Make in India campaign’s second achievement report that was released by the Ministry of Commerce and Industry on Friday. The report highlights the progress in FDI inflow, job creation as well as skill development, and growth in manufacturing. Make in India was launched in 2014 to promote 25 key sectors for the growth of the economy. • FDI equity inflow grew by 16 per cent in FY 2015-16. Between March 2014 and March 2016, FDI added up to USD 427.55 million. • In 2015 -16, the total exports increased to 15 per cent, which was 13 per cent in 2013-14. In the year 2016, the export was USD 38billion. It is estimated to reach USD 62
billion by 2021. • In 2015-16, 51 million people directly and 68 million people indirectly were employed in the sector. • 5.3 lakh youth have been trained in last two years under the Integrated Skill Development Scheme (ISDS). More than 81 per cent of persons trained have been placed including 79 per cent of the trained women. Arvind share price have been the talk to the D-Street yesterday. The share price closed at Rs 362.10, up by 5.19 per cent or 17.95 points. Out of all the 1700 plus NSE listed stocks, Arvind is identified as one of the top 500 stocks by Dynamic Levels. Get the historical share price performance of Arvind at Arvind share price history.
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Published on Dec 2, 2016