Aditya Birla Fashion and Retail Limited has announced the approval for issuing non-convertible debentures (NCDs) worth ₹5 billion. The decision was made by the Merger and Takeover Committee of the Board of Directors on September 5, 2024.
In a related update, the company has also approved the allotment of 5,57,43,053 fully paid-up equity shares of face value ₹10 each to eligible shareholders of TCNS. This allotment is in accordance with the record date of September 3, 2024, and follows a share exchange ratio of 11 fully paid-up equity shares of Aditya Birla Fashion for every 6 fully paid-up equity shares of TCNS. The newly issued shares will rank equally with the existing fully paid-up equity shares of the company.
As a result of this allotment:
- The issued equity share capital of the company will increase from ₹10,15,29,66,150 to ₹10,71,03,96,680.
- The paid-up equity share capital will rise from ₹10,15,09,11,110 to ₹10,70,83,41,640.
Aditya Birla Fashion and Retail’s shares closed 1.35% higher at ₹314.65 on the NSE.