Adtiya Birla Fashion rights opens July 8, payment in 3 tranches like RIL

Issue size Rs 995 crore, closes July 22, ex-date July 1; shareholders can get nine shares for every 77 held

Aditya Birla Fashion and Retail (ABFRL) on Monday announced its Rs 995-crore rights offering will open for subscription on July 8 and close on July 22. The ex-date for the rights issue is set as July 1. The existing shareholders will be eligible to get nine shares for every 77 shares held.

The rights issue price has been set at Rs 110 for one fully paid share of face value Rs 10 — 14 per cent discount to its last closing price of Rs 128.  As many as 90.5 million shares —11.7 per cent of the current equity base — will