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Arvind receives approval from board for demerger of branded apparel biz

Arvind has received approval from the board for demerger of its branded apparel business to Arvind Fashions and demerger of engineering division to Anveshan.

Arvind Anveshan and Arvind Fashions will be listed on NSE and BSE. No cash will be paid by Arvind Fashions or Anveshan to the company or shareholders.

Further, shareholders of Arvind will get 1 share of Arvind Fashions for every 5 shares hold in Arvind and 1 share of Anveshan for 27  shares held in Arvind.

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