Arvind Limited — JV/Acquisition, 19-12-2024: Acquisition

Arvind Limited has made an additional investment of ₹24.99 crore in its wholly-owned subsidiary, Arvind Advanced Materials Limited (AAML), through a rights issue. AAML, which operates in the advanced materials sector, reported a turnover of ₹95.34 crore for FY 2023-24. This capital infusion aims to facilitate loan repayments and support general corporate purposes, with no change to Arvind Limited's 100% ownership stake in AAML. The transaction is expected to strengthen AAML's financial position as it continues to enhance its operations in India.