Aditya Birla Fashion plans to raise Rs 750 crore

The company stated on Thursday that Aditya Birla Fashion and Retail intends to raise Rs 750 crore through debt bonds on or around September 4.

According to a regulatory filing by Aditya Birla Fashion and Retail (ABFRL), the company would like to raise funds 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.

The company stated in a separate filing that it had successfully acquired a 29% stake in TCNS Clothing Co Limited through the open offer.

Over Rs 941 crore has been estimated to be the value of the 29% stake.

According to a previous announcement, ABFRL paid around Rs 1,650 crore to acquire a 51% stake in TCNS.

Source: Media Reports