Aditya Birla Fashion and Retail Ltd Unveils Ambitious ₹2,400 Crore Equity Raise to Fuel Growth and Expansion

Aditya Birla Fashion and Retail Ltd (ABFRL) has approved a significant equity fundraise of approximately ₹2,400 crore ($290 million). The company will issue shares worth ₹1,297.5 crore to its promoter group at ₹317.45 per share, increasing Pilani Investment and Industries' stake to 3.9%. Additionally, ABFRL will raise ₹1,081.25 crore from qualified institutional buyers (QIBs) at ₹272.37 per share, with participation from various Fidelity funds. This strategic move aims to strengthen ABFRL's financial position, support its growth initiatives, and address operational challenges in the competitive fashion retail landscape.

Source : Economic Times