The board has approved a proposal to issue up to 4.08 crore shares of face value of Rs 10 each at issue price of Rs 317.45 aggregating Rs 1,297.50 crore to Pilani Investment and Industries Corporation
New Delhi: Aditya Birla Fashion and Retail Ltd (ABFRL) on Wednesday said its board has approved raising Rs 2,378.75 crore from promoters and market.
The board has approved a proposal to issue up to 4.08 crore shares of face value of Rs 10 each at issue price of Rs 317.45 aggregating Rs 1,297.50 crore to Pilani Investment and Industries Corporation, a promoter group entity.
Moreover, up to 3.96 crore shares of face value of Rs 10 each at issue price of Rs 272.37 aggregating Rs 1,081.25 crore will be issued to Qualified Institutional Buyers under non-promoter category, a regulatory filing said.
The investors are – Fidelity Blue Chip Growth Fund, Fidelity Blue Chip Growth Commingled Pool, Fidelity Blue Chip Growth K6 Fund, Fidelity Series Blue Chip Growth Fund and FIAM Target Date Blue Chip Growth Commingled Pool.
The ABFRL board has also approved convening of an extraordinary general meeting on February 13, 2025, to approve the fundraise.
Shares of ABFRL were trading at Rs 270.20 apiece, up 0.04 per cent from the previous close on NSE.
