ABFRL Plans Major Capital Raise Through Multiple Routes

Aditya Birla Fashion and Retail Limited (ABFRL) has announced that its board will evaluate various fundraising options, including Qualified Institutional Placement (QIP), rights issue, and other equity-linked securities. This strategic move follows the company's recent plans to demerge its Madura Fashion & Lifestyle business into a separate listed entity. The fundraising initiative, expected to strengthen ABFRL's balance sheet, comes as the company aims to position itself for future growth opportunities in the retail sector. The company plans to raise approximately Rs 2,500 crore within 12 months after completing its demerger, with full support from its promoter group.

Source: Business Standard