Aditya Birla Fashion and Retail has received approval for issuance of Non-cumulative Non-Convertible redeemable preference shares on private placement basis for an aggregate amount not exceeding Rs 1.20 crore in one or more tranches on private placement basis. The proceeds of the issue will be utilized towards redemption of existing Redeemable Preference Shares of the company. The Board of Directors of the company at their meeting held on February 14, 2024, has 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.
