Aditya Birla Fashion and Retail after the market hours on Thursday announced that a meeting of the board of directors of the company will be held on Tuesday, 24 May 2022 to consider proposal for capital raising.
The company's board will consider fund raising through issue of equity shares, convertible bonds, warrants, debentures or any other securities, through permissible modes including but not limited to a qualified institutions placement, preferential allotment, rights issue, further public offer, etc.ABFRL is part of a leading Indian conglomerate, the Aditya Birla Group. It is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
The retailer company announced its fourth quarter result on 18 May 2022. The Aditya Birla Group company reported a consolidated net profit of Rs 43.59 crore in Q4 FY22 as against a consolidated net loss of Rs 137.64 crore in Q4 FY21. Net sales grew by 25.3% to Rs 2,282.83 crore in Q4 FY22 over Q4 FY21.
Shares of ABFRL ended 0.69% higher to Rs 270.25 on Friday.
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