Aditya Birla Fashion and Retail has raised its shareholding in Goodview Fashion (GFPL), the entity that manufactures and sells ethnic couture fashion under the brand ‘Tarun Tahiliani’, from 33.5% to 51%, through secondary acquisition of 17.5% equity stake from the existing shareholders of GFPL. Pursuant to this transaction, from being an associate of the company, GFPL has become a subsidiary of the company with effect from July 11, 2024. Cost of acquisition is around Rs 127.42 crore.
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.
