India's Arvind Fashions soars after raising funds

ARVIND FASHIONS

23/08/2021 07:31

** Shares of Indian textile co  ARVF.NS  surge as much as
10.6% to 265 rupees, their highest since March 3, 2020
    ** Co says it raised 4.39 bln rupees ($59.10 mln) from
investors including ICICI Prudential Mutual Fund and foreign
institutional investors such as University of Notre Dame Du Lac
    ** With fund raise, co completes capital requirement needed
for growth and navigating any COVID-19 related uncertainties -
ARVF says https://bit.ly/3y4MAGV
    ** Co unlikely to require any more funding in near to medium
term - ARVF 
    ** More than 2.6 mln shares traded by 0621 GMT, 1.2 times
their 30-day avg
    ** As of last close, stock has risen 59.2% this year 

($1 = 74.2770 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))