Multiples PE-backed Arvind Fashions defers rights issue amid market mayhem

VCCircle | Mar 26, 2020 at 8:01 PM
  • Arvind Fashions Ltd has pushed back plans to raise capital via a rights issue, the branded apparel company demerged from textile maker Arvind Group informed the stock exchanges on Thursday.
  • Arvind Fashions, which counts Renuka Ramnath-led Multiples Private Equity as its backer, had approved raising Rs 300 crore in equity capital on March 12.
  • The company was to issue 19.97 million shares at Rs 150 per share through the rights issue.