Latest News | Aditya Birla Fashion to Raise Rs 750 Cr

New Delhi, Aug 31 (PTI) Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday.

The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing.

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"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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)