Home / Companies / News / Aditya Birla Fashion to raise Rs 1,500 crore from Flipkart; stk jumps 17%

Aditya Birla Fashion to raise Rs 1,500 crore from Flipkart; stk jumps 17%

On completion of this transaction, ABFRL would have successfully executed a capital raise of Rs 2,500 crore since April 1, 2020

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The promoter and promoter group companies of ABFRL will hold about 55.13 per cent upon completion of the issuance

3 min read Last Updated : Oct 23 2020 | 2:27 PM IST

Aditya Birla Fashion and Retail on Friday approved to raise Rs 1,500 crore by way of preferential issue to Flipkart Investments Private Limited, a foreign portfolio investor, the company said in an exchange filing. With this infusion, Flipkart Group will own 7.8% equity stake in ABFRL on a fully diluted basis.

According to the deal terms, AB Fashion and Retail will issue 7,31,70,732 fully paid-up equity shares, at a price of Rs 205 per share (face value of Rs 10 each) aggregating to Rs 1,500 crore, ranking pari passu to the existing fully paid-up equity shares. The promoter and promoter

Topics : Buzzing stocks Aditya Birla Fashion and Retail Flipkart

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