The company announced on Thursday, that Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds.
According to a regulatory filing by Aditya Birla Fashion and Retail (ABFRL), the business would raise money through a private placement.
“The Company proposes to raise funds by issuing 75,000 listed, unsecured, rated, redeemable non-convertible debentures of face value of Rs 1,00,000 (Rupees One Lakh only) each issued at par aggregating to Rs 7,50,00,00,000 (Rupees Seven Hundred Fifty Crores Only), on private placement basis, on or after September 4, 2023,” the filing said.
In a separate filing, the company said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer.
The 29 per cent stake is estimated to be over Rs 941 crore.
As per an earlier announcement, ABFRL acquired a 51 per cent stake in TCNS for about Rs 1,650 crore.
On Thursday at 12.25 p.m. the company shares were trading at 0.5% down at Rs. 218.40.
According to the company filing, total revenue increased by 12% YoY from Rs. 2,905.88 Cr in Q1 FY 23 to Rs. 3,256.35 Cr in Q1 FY24 and the company reported a net loss of Rs. 161.42 Cr in Q1 FY23 against profit of Rs. 94.44 Cr in Q1 FY24.
A subsidiary of Aditya Birla Management Corp Pvt Ltd, Aditya Birla Fashion and Retail Ltd (ABFRL) offers fashion, leisure, and retail services. It offers clothing categories for men, women, and children that include casual wear, formal wear, ethnic wear, party wear, and sportswear, among others.
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