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Home STOCKS Arvind Lifestyle Brands Ltd: Arvind Way of life Manufacturers gets Rs 260...

Arvind Lifestyle Brands Ltd: Arvind Way of life Manufacturers gets Rs 260 crore from Flipkart for minority stake in group business

Arvind Fashions (AFL) on Tuesday reported its subsidiary Arvind Life-style Makes has obtained Rs 260 crore from Flipkart India to choose a minority stake in another team agency Arvind Youth Models. Arvind Youth Manufacturers is Arvind Fashions’ not too long ago-fashioned subsidiary which will individual the Traveling Device brand name.
“…Immediately after completion of the customary conditions precedent, Arvind Life style Makes Ltd, a subsidiary of the business, received Rs 260 crore from Flipkart India as consideration for the sale of a significant minority stake in Arvind Youth Models, a further subsidiary of the enterprise,” Arvind Fashions claimed in a BSE filing.
Previously this thirty day period, Arvind Fashions had knowledgeable exchanges that Flipkart Team experienced invested Rs 260 crore to decide on a minority stake in its subsidiary Arvind Youth Models.
Flying Device has been retailing on the group’s platforms of Flipkart and Myntra for extra than six yrs.

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