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Aditya Birla Fashion to raise Rs 750 crore

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The company will raise funds on a private placement basis

New Delhi: 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.

“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.

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