Arvind Fashions has granted 2,00,000 (Two Lakhs) stock options to eligible Employee of the Company under July-2020 Grant pursuant to AFL - Employees Stock Option Scheme- 2016 (ESOS 2016).In terms of the ESOS 2016, one stock option represents/ convertible into one equity share of the Company.

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Arvind Fashions has allotted 3,99,79,347 fully paid up Rights Equity Shares of face value of Rs 4 each at a price of Rs 100 per Rights Equity Share including a share premium of Rs 96 per Rights Equity Share, aggregating Rs 399.79 crore to the eligible applicants.

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Arvind Fashions announced that after completion of the customary conditions precedent, Arvind Lifestyle Brands, a subsidiary of the Company, received Rs 260 crore from Flipkart India as consideration for the sale of a significant minority stake in Arvind Youth Brands,another subsidiary of the Company.

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Arvind Fashions' Rs 400 crore rights issue was subscribed 1.41 times. It received a bid for 5,65,73,143 equity shares. The rights issue opened on 29 June 2020 and closed on 17 July 2020.

The company offered 3,99,79,347 rights equity shares with a face value of Rs 4 each for Rs 100 each for an amount aggregating upto Rs 399.79 crore on rights basis in the ratio of 62 rights equity shares for every 91 fully paid up equity shares held by the equity shareholders on the record date on 18 March 2020. The rights issue will help the company stabilise its operations and cash flow.

Arvind Fashions is India's leading casual and denim player, a lifestyle powerhouse with a strong portfolio of fashion brands catering to consumers across sub-categories and price points.

Shares of Arvind Fashions hit a lower circuit of 5% at Rs 128.05 on Friday (17 July).

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