Arvind plans to raise up to Rs 200 crore through NCDs

NEW DELHI: Textiles manufacturer on Saturday said it is planning to raise up to Rs 200 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The company’s board will consider a proposal to raise funds in a meeting on May 26, Arvind Ltd said in a BSE filing.

“We hereby inform you that at the said meeting, the board will also consider the matter regarding fundraising options available to the company by way of issue of NCDs up to Rs 200 crore on private placement basis,” it said.

This would be subject to the approval of shareholders, Arvind Ltd added.

The board will also consider financial results for the quarter and year ended March 31, 2021 in the meeting.