SBI Life Insurance, others buy 6% stake in AB Lifestyle Brands for ₹998 cr

SBI Life Insurance, Aditya Birla MF, Morgan Stanley, Goldman Sachs, and other entities have cumulatively acquired over 7.31 crore shares, representing a 6 per cent stake, in Aditya Birla Lifestyle Brands from Flipkart Investments for Rs 998 crore through open market transactions on Monday.

Singapore-headquartered Amansa Capital, Nippon India Mutual Fund (MF), ICICI Prudential MF, UTI MF, ICICI Prudential Life Insurance, Ghisallo Capital Management, Societe Generale, and US-based Pathstone are among the entities that have bought stakes in Aditya Birla Lifestyle Brands Ltd (ABLBL), as per block deal data on the NSE.

These entities have collectively purchased over 7.31 crore equity shares or 6 per cent stake in separate deals.

 

Meanwhile, Aditya Birla Sun Life MF acquired 36.62 lakh shares or 0.3 per cent holding in ABLBL while SBI Life Insurance hiked its stake by picking up 1.73 crore shares representing nearly 1.42 per cent stake, as per the data.

After the stake buy, SBI Life's holding in Aditya Birla Lifestyle Brands has increased to 3.65 per cent from 2.23 per cent.

The shares were bought at an average price of Rs 136.45 apiece, taking the combined deal value to Rs 998.41 crore.

Meanwhile, Bengaluru-based Flipkart through its arm Flipkart Investments Pvt Ltd exited Aditya Birla Lifestyle Brands after selling these shares to these entities at the same price.

Flipkart's exit marks a complete divestment of its holdings in ABLBL, which houses brands such as Van Heusen, Louis Philippe, Peter England and Allen Solly.

Shares of Aditya Birla Lifestyle Brands jumped 7.01 per cent to close at Rs 146.01 apiece on the NSE.

In August, Aditya Birla Lifestyle Brands reported a 4.92 per cent rise in its consolidated net profit to Rs 24.06 crore for the June quarter of FY26.

In June this year, Flipkart exited Aditya Birla Fashion and Retail (ABFRL) by selling its entire 6 per cent stake in the fashion retailer for Rs 588 crore.