Aditya Birla Fashion and Retail has received approval from board of directors to issue 9,04,65,693 partly-paid up equity shares of face value of Rs 10 each for amount aggregating to Rs 995 crore (full subscription). The shares will be issued at a price of Rs 110 per fully paid-up equity share (including a premium of Rs 100 per Equity Share). The payment should be made in 3 installments. The Board of Directors of the Company at its meeting held on June 25, 2020 has considered and approved the same.
Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
