ABFRL launches QIP with floor price of Rs 271.28/share

Aditya Birla Fashion and Retail (ABFRL) informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 271.28 per equity share.

The company's board authorized and declared the opening of the issue on Thursday, 16 January 2025.

The floor price of Rs 271.28 is at a discount of 1.89% to the scrips previous closing price of Rs 276.50 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the bookrunning lead managers appointed for the issue.

Aditya Birla Fashion and Retail (ABFRL) is engaged in the business of manufacturing and retailing of branded apparel and runs a chain of apparel and accessories retail stores in India.

On a consolidated basis, ABFRL reported a net loss of Rs 185.90 crore in Q2 FY25 as against a net loss of Rs 179.15 crore recorded in Q2 FY24. Revenue from operations increased 12.9% YoY to Rs 3,643.86 crore in the September 2024 quarter.

The scrip shed 0.43% to currently trade at Rs 275.30 on the BSE.

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