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Arvind Fashions Limited to list today

Posted On: 2019-03-08 08:54:02

The equity shares of Arvind Fashions Limited shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities effective from Friday, March 8, 2019. The scrip will be in Trade-for-Trade segment for 10 trading days.

Pursuant to Composite Scheme of Arrangement amongst Arvind Limited (Demerged Company), Arvind Fashions Limited (Resulting Company 1), erstwhile Anveshan Heavy Engineering Limited (presently The Anup Engineering Limited) (Resulting Company 2 or Transferee Company), erstwhile The Anup Engineering Limited (Transferor Company) and their respective shareholders and creditors as sanctioned by the Ahmedabad Bench of the Hon’ble National Company Law Tribunal ;whereby upon coming into effect of the scheme and in consideration of the transfer of the Branded Apparel Undertaking from Demerged Company into Resulting Company 1; Resulting Company 1 shall issue and allot 1 (One) fully paid up equity shares of Rs. 4/- of Resulting Company 1 for every 5 (Five) fully paid up equity shares of Rs. 10/- held in Demerged Company.

Prior to the Scheme, the equity capital of Resulting Company 1 held by Demerged Company was Rs. 20,78,13,516 /- consisting of 5,19,53,379 equity shares of face value of Rs.4/- each and the same shall stand cancelled upon the scheme coming effect.

The issued, subscribed and paid-up equity capital of Resulting Company 1 post arrangement is Rs. 23,19,78,692 consisting of 5,79,94,673 Equity shares Rs. 4/- each.


Source: Equity Bulls

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