Private Equity

Private Equity Fund Investments

Denim manufacturer Arvind Fashions raises Rs.439-Cr from investors, promoters

MyBigPlunge  

Arvind Fashions Ltd (AFL), a casual and denim manufacturer, has raised INR 439 crore from various investors including promoters by issuing equity shares at the price of INR 218.50 per share. The investors who participated in the fundraise are Akash Bhanshali, existing shareholders including ICICI Prudential Mutual Fund, foreign institutional investors including University of Notre Dame Du Lac, GP Emerging Markets Strategies LP, The Ram Fund LP and other investors. Aura Merchandise, a promoter entity, also participated in the preferential issue for an amount of INR 40 crore. AFL has a portfolio of both international and indigenous brands which includes US Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, Flying Machine, Aeropostale and Ed Hardy. It is also in the beauty retailing space in partnership with Sephora. Last month, AFL had sold its ‘unlimited' retail chain to value fashion retailer V-Mart Retail Ltd for an estimated INR 150 crore in an all-cash transaction.