Aditya Birla Fashion and Retail (ABFRL) has received approval for raising of $500 million through a combination of preferential issuance and Qualified Institutional Placement (QIP) of equity shares. The Preferential issuance of $275 million will be led by the promoter group investing $150 million and Fidelity Investments investing $125 million. The preferential allotment will be subscribed by Fidelity Investments through its funds viz. Fidelity Blue Chip Growth Fund, Fidelity Blue Chip Growth Commingled Pool, Fidelity Blue Chip Growth K6 Fund, Fidelity Series Blue Chip Growth Fund & FIAM Target Date Blue Chip Growth Commingled Pool. The company also received approval for an equity issuance through QIP for up to $225 million, taking the total fund raise to $500 million.
This combined fund raise will deleverage the company and position it to aggressively pursue its growth strategy through its multiple growth engines established over the last few years. This capital raise marks an important milestone ahead of the proposed vertical demerger of the company into two separately listed entities. The demerger exercise is expected to be completed by the end of this financial year. The board of Directors of the company in its meeting held on January 15, 2025 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.
| Company Name | CMP |
|---|---|
| Avenue Supermarts | 4629.25 |
| Trent | 4105.95 |
| Vishal Mega Mart | 118.90 |
| Aditya Birla Lifesty | 105.86 |
| PN Gadgil Jewellers | 667.45 |
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