Aditya Birla Fashion & Retail's Promoter & Promoter Group to participate in rights issue

Aditya Birla Fashion & Retail announced that the Promoter and Promoter Group of the Company, post considering the terms of the Rights issue of the Company have confirmed the following -

(i) fully subscribe to the extent of their Rights Entitlement and do not intend to renounce such rights, except to the extent of renunciation within the Promoters and Promoter Group; and

(ii) subscribe to any additional Equity Shares in the Issue, amongst themselves, for ensuring subscription to the extent of at least 90% of the Issue (in case of under-subscription below 90% in the Issue) and such subscription shall be subject to applicable laws.

 

In addition to the above stated, please note that any participation by the Promoter / members of the Promoter Group, over and above their rights entitlement, shall not result in a breach of the minimum public shareholding requirements prescribed under applicable laws.

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