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Aditya Birla Fashion and Retail Ltd (ABFRL) intends to raise Rs 500 crore through the private issue of bonds.
“The company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, issued at par aggregating to Rs 500 crore on private placement basis, on or after January 13, 2023,” the Aditya Birla group firm said in a regulatory filing on Friday.
This is within the boundaries set by the company’s board of directors and owners, it added.
ABFRL, a subsidiary of the USD 60 billion Aditya Birla Group, is India’s largest multi-brand store, carrying international names such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle, and Reebok.
Fashion brands Louis Philippe, Van Heusen, Allen Solly, and Peter England are all part of the company’s portfolio, as is fashion store Pantaloons.
