Textile manufacturer Arvind Limited is planning to raise up to Rs 500 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

“In order to meet the financial needs, the company may make an offer of NCDs or invite subscription to NCDs on private placement basis in one or more tranches… for an aggregate amount not exceeding Rs 500 crore,” Arvind said in a notice for annual general meeting scheduled for August 4.

The Ahmedabad-based company is one of the leading producers of denim in the world. This cutting edge position comes to Arvind courtesy technologies such as Open-end Spinning, Foam Finishing, Mercerizing, Slasher-dyeing, Rope-dyeing, Air-Jet, Projectile and Wet Finishing.

In recent years, the company has also ventured into retail business with lifestyle fashion products.