Board of Aditya Birla Fashion & Retail approves preferential issue of shares to Flipkart
At meeting held on 23 October 2020
The Board of Aditya Birla Fashion & Retail at its meeting held on 23 October 2020 has approved issuance of equity shares on a preferential basis to Flipkart Investments, a foreign portfolio investor, duly registered under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, aggregating to Rs 1500 crore (Preferential Issue).The Company has also, in furtherance of the existing B2B arrangements with Flipkart India, entered into a commercial agreement in relation to the sale and distribution of various brands of the Company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content