Aditya Birla Fashion and Retail (ABFRL) has decided to raise up to Rs 1250 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company will seek shareholders' approval for the same in its next Annual General Meeting (AGM) on September 7, 2016. Further, keeping in view the company's business requirements, growth plans and increased fund requirements, ABFRL is also proposed to increase the overall borrowing limits in AGM.
ABFRL brings together the learning’s and businesses of two renowned Indian fashion icons, Madura Fashion & Lifestyle and Pantaloons Fashion and Retail. This will create a synergistic core that will act as the nucleus of the future fashion businesses of the Aditya Birla Group.
