Aditya Birla Fashion And Retail To Raise Rs 750 Crore
In a recent regulatory filing, Aditya Birla Fashion and Retail (ABFRL) announced its intention to secure Rs 750 crore in funds through debt bonds. The fundraising is scheduled to take place on or after September 4, 2023, through a private placement offering.
The company plans to issue 75,000 listed, unsecured, rated, redeemable non-convertible debentures, each with a face value of Rs 1,00,000 (Rupees one lakh only) at par, totaling Rs 750 crore.
In a separate filing, ABFRL also confirmed the successful acquisition of a 29 per cent stake in TCNS Clothing Co Ltd through an open offer. The estimated value of this 29 per cent stake stands at over Rs 941 crore.
As previously announced, ABFRL had acquired a 51 per cent stake in TCNS for approximately Rs 1,650 crore.
