Arvind Fashions to raise Rs 200 crore via rights issue at Rs 135 per share

Arvind Fashions said its committee of directors has approved raising around Rs 200 crore through a rights issue. The committee of directors of the company has approved the issue of 1,48,02,856 partly paid-up equity shares of face value of Rs 4 each at an issue price of Rs 135 per equity share for up to Rs 199.84 crore to all the existing equity shareholders of the company on a rights basis," Arvind Fashions said.

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NEW DELHI: The government has received multiple preliminary bids for strategic sale of Pawan Hans, DIPAM Secretary Tuhin Kanta Pandey said.

Thursday was the last date for putting bids for Pawan Hans, in which government owns 51 per cent stake while Oil and Natural Gas Corp (ONGC) holds the remaining 49%. ONGC has also decided to tender its share in the strategic sale process.

"Multiple expressions of interest have been received for privatisation of Pawan Hans Limited. The transaction will now move to the second stage," he said.

After multiple failed attempts, the Department of Investment and Public Asset Management (DIPAM) had in December invited bids for strategic sale, along with transfer of management control, of helicopter service provider Pawan Hans. The date for bid submission was January 19, which was later extended to February 18.

In 2018, the government had invited bids to sell 51 per cent stake in Pawan Hans.