Today there was a new listing on the bourses – Arvind Fashions. It got listed on the BSE at Rs.591.75 and on the NSE at Rs.590.95.
The flagship company, Arvind Ltd, restructured and Arvind Fashions was one of the units carved out of this exercise. In this, brands and retail, textiles , engineering all got bifurcated into separate entities.
Arvind Fashions is basically sells big brands through its 1300 stores in 180 cities. It sells US Polo Assn, Arrow, Tommy Hilfiger, CK while being the process of setting outlets for Unlimited, Sephora and GAP.
On separation, shareholders of Arvind got one share for every five shares held in Arvind Fashions.
Arvind Ltd is a big loser today, second top loser on the BSE currently, going down over 5.5% to Rs.84.35.