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Arvind Shares Surge Over 10% on Fund Raising Plans

One of India’s largest integrated textile and apparel company, Arvind Ltd one of India’s largest integrated textile and apparel Company, has today announced its decision to raise about Rs.740 crore by diluting 10 per cent stake in its brand business arm, pegging its enterprise value at Rs.8,000 crore. The entire stake will be picked up […]

Arvind Shares Surge Over 10% on Fund Raising Plans

One of India’s largest integrated textile and apparel company, Arvind Ltd one of India’s largest integrated textile and apparel Company, has today announced its decision to raise about Rs.740 crore by diluting 10 per cent stake in its brand business arm, pegging its enterprise value at Rs.8,000 crore. The entire stake will be picked up by Multiples, the private equity firm founded by Renuka Ramnath.

Arvind’s brand portfolio business clocked a turnover of Rs.2,300 crore for the FY 2015-16. It is one of the fastest growing businesses in the country with a CAGR of 25 per cent for the past three years. The unmatched portfolio includes global marquee brands such as Calvin Klein, Tommy Hilfiger, US Polo Assn, Ed Hardy, Hanes, Arrow, Gant and Nautica, among others.

“We are delighted to have Multiples as an investor. This transaction reflects the confidence of the investor community in the overall business strategy, the robustness of the platform and quality of our leadership team. The deal is an important milestone in our journey to be a fashion, apparel and accessories powerhouse,” Sanjay Lalbhai, CMD of Arvind Ltd said.

For the quarter ended September 30, 2016, Arvind has recorded 19 per cent growth in the consolidated revenue, which increased to Rs.2,331 crore. This figure was Rs.1,957 in the corresponding quarter of the previous year. Consolidated EBIDTA for the quarter increased by two per cent to Rs.232 crore as against Rs.228 crore in the corresponding quarter of the previous year.

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