The branded apparel segment of Arvind Limited, Arvind Fashions started off the first trade at Rs 590.95 on the National stock exchange Friday. Exchange enlightened that the equity shares of Arvind fashions admitted to dealings in the list of T Group securities, effective from 8 March.
The stock was trading at 620.45, up 99.5 per cent on the NSE while on BSE, it was quoting at Rs 621.30 at 10:02 hours IST
In October 2018, National Company Law Tribunal sanctioned the Composite Scheme of Arrangement amongst Arvind Limited and Arvind Fashions Limited and Anveshan Heavy Engineering Limited and The Anup Engineering Limited and their respective shareholders and creditors.
Branded apparel business of Arvind Limited transferred to Arvind Fashions, engineering business to Anveshan Heavy Engineering Limited. Anup Engineering merged with Anveshan Heavy Engineering Limited.
In December 2018, Arvind Fashions issued its one share of Rs 4 each to Arvind Limited’s shareholders for five shares of Rs 10 each held. Anveshan Heavy Engineering Limited issued its one share of Rs 10 each to Arvind Limited’s shareholders for every 27 shares of Rs 10 each held.
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