Aditya Birla Fashion and Retail Limited (ABFRL) has announced the approval of a Qualified Institutions Placement (QIP) of equity shares to raise ₹2,500 crore. The decision was finalized at the company’s Board of Directors meeting held on January 15, 2025. This significant step aligns with the company’s strategic objectives to strengthen its financial position and fund expansion plans.
Key details of the QIP issuance
- The QIP aims to issue equity shares with a face value of ₹10 each to eligible institutional buyers.
- The total funds to be raised through this process are capped at ₹2,500 crore, adhering to SEBI ICDR Regulations and the Companies Act, 2013.
- The issue price, including a premium, will be determined based on market conditions and regulatory guidelines.
Timeline and regulatory alignment
- Shareholders had granted approval for this fundraising initiative at the Annual General Meeting held on September 19, 2024.
- The Board meeting, which approved the QIP, commenced at 9:00 AM and concluded at 9:34 AM on January 15, 2025.
- The QIP will be launched soon, subject to final regulatory and stock exchange approvals.
Strategic context
This QIP issuance comes at a critical time for ABFRL, as the company continues to position itself as a leader in the Indian fashion and retail industry. The funds will empower ABFRL to scale operations and leverage market opportunities, particularly in premium and sustainable fashion segments.
The official regulatory filing detailing the approval has been made available on the company’s website for stakeholders and investors.
Disclaimer: The information provided is for informational purposes only and should not be considered as financial or investment advice.
