Aditya Birla Fashion likely to raise funds via 'Non-Convertible Debentures'

The group has over 7,000 points of sale across over 375 cities and towns

Aditya Birla Fashion and Retail Ltd (ABFRL) in a BSE (Bombay Stock Exchange) filing today announced its plans to raise funds through issuance of Non-Convertible Debentures (NCDs) on private placement basis.

The company's board at its meeting to be held on May 25 will, inter alia, also consider, passing of an enabling resolution for issuance and allotment of NCDs on private placement basis in one or more tranches.

"This will be subject to the provisions of the applicable laws and requisite approvals, for requirements/operations of the company," listed the BSE filing.

Formerly known as Pantaloons Fashion and Retail Ltd, ABFRL has a portfolio of brands spans from luxury to super premium, premium, sub-premium to fast fashion segments.

It has over 7,000 points of sale across over 375 cities and towns, which include more than 2,000 exclusive ABFRL brand outlets.

ABFRL was formed after consolidation of the branded apparel businesses of Aditya Birla Nuvo Ltd (ABNL) Madura Fashion and ABNL's subsidiaries Pantaloons Fashion and Retail as well as Madura Fashion and Lifestyle in May 2015.