Aditya Birla Fashion and Retail (ABFRL) Announces Major Capital Raise

In a strategic move ahead of its proposed vertical demerger, Aditya Birla Fashion and Retail (ABFRL) is set to raise $500 million. This significant capital infusion will be achieved through a combination of preferential issuance and qualified institutional placement of equity shares.

Strategic Investments from Prominent Entities

Leading the investment, Pilani Investment and Industries Corporation, a promoter of ABFRL, will inject $150 million into the company. Additionally, Fidelity Investments, a renowned American investor, has committed $125 million. These investments underscore the confidence in ABFRL's growth trajectory and its strategic initiatives.

Regulatory and Shareholder Approvals Pending

It's important to note that this ambitious capital raise is contingent upon receiving the necessary approvals from both shareholders and regulatory bodies. This step is crucial for ABFRL as it moves forward with its plans to split into two distinct listed entities, aiming to unlock value and drive focused growth in its diversified business segments.