Aditya Birla Fashion acquires 51% stake in Sabyasachi; stock dips 6%

Shares of Aditya Birla Fashion and Retail (ABFRL) dipped as much as 6 per cent to Rs 153 on the BSE on Thursday. The company had, on Wednesday, announced a strategic partnership with India’s largest designer brand Sabyasachi by signing a definitive agreement for acquiring 51 per cent stake in Sabyasachi brand for a consideration of Rs 398 crore.

Sabyasachi is India’s largest and most influential luxury designer brand and engaged in categories such as apparel, accessories and jewellery and has a strong franchise in India, US, UK and the Middle East. The brand generated revenue worth Rs 274 crore