Google News
spot_img
spot_img

Aditya Birla Fashion to raise Rs 750 crore

Must Read

The company will raise funds on a private placement basis

New Delhi: Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday.

The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing.

“The Company proposes to raise funds by issuing 75,000 listed, unsecured, rated, redeemable non-convertible debentures of face value of Rs 1,00,000 (Rupees One Lakh only) each issued at par aggregating to Rs 7,50,00,00,000 (Rupees Seven Hundred Fifty Crores Only), on private placement basis, on or after September 4, 2023,” the filing said.

In a separate filing, the company said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer.

The 29 per cent stake is estimated to be over Rs 941 crore.

As per an earlier announcement, ABFRL acquired a 51 per cent stake in TCNS for about Rs 1,650 crore.

Latest News

The Luxottica report card for 2022

A look at how the world’s largest eyewear company fared in terms of revenue growth in key regions across...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.