The company will issue 4,08,72,580 equity shares on a preferential basis at issue price of Rs 317.45 each, aggregating to an amount up to Rs 1,297.50 crore to Pilani Investment and Industries Corporation under promoter/ promoter group category.
Further, the firm will also issue 3,96,97,838 equity shares at issue price of Rs 272.37 each, aggregating to an amount up to Rs 1,081.25 crore to qualified institutional buyers under non-promoter category on a preferential basis.
Meanwhile, the board also approved issuance of equity shares by way of qualified institutions placement (QIP) for an aggregate amount not exceeding Rs 2,500 crore, subject to receipt of necessary regulatory approvals, as may be required.
Aditya Birla Fashion and Retail (ABFRL) is engaged in the business of manufacturing and retailing of branded apparels and runs a chain of apparels and accessories retail stores in India.
On consolidated basis, ABFRL reported net loss of Rs 185.90 crore in Q2 FY25 as against a net loss of Rs 179.15 crore recorded in Q2 FY24. Revenue from operations increased 12.9% YoY to Rs 3,643.86 crore in the September 2024 quarter.
The counter shed 0.31% to trade at Rs 269.50 on the BSE.