The committee of directors of Arvind Fashions on Thursday decided to issue equity shares on rights basis in the ratio of 16:47, that is, 16 equity shares for every 47 held at an issue price of ₹150 a share. The company will issue around two crore shares through this rights issue. The company has fixed March 18, as the record date for the purpose of determining names of the shareholders of the company eligible for applying for the equity shares in the rights issue. Shares of Arvind Fashions closed 6.12 per cent lower at ₹289 on the BSE. Our Bureau