Aditya Birla Fashion and Retail Limited — Important, 04-02-2025: General Updates

The company has issued a corrigendum regarding its Extra Ordinary General Meeting (EGM) scheduled for February 13, 2025. Notably, the number of equity shares and issue prices in the resolutions have been updated.

For the preferential issue to the promoter group, the company plans to issue up to 4,08,33,990 fully paid-up equity shares at a price of ₹ 317.75 per share, aggregating to approximately ₹ 12,975 crore. For the Qualified Institutional Buyers (QIB), up to 3,96,09,127 equity shares will be offered at ₹ 272.98 each, totaling around ₹ 10,813 crore.

The proceeds from this issue will primarily be used for repaying outstanding borrowings, with ₹ 1,185 crore allocated for this purpose, and the remaining funds directed towards capital expenditure across high-growth segments such as retail and ethnic wear. The company's funding plans remain contingent on market and operational conditions, with deployment expected by the end of Fiscal 2026. The overall strategy indicates a proactive approach towards enhancing financial stability. Watch closely for developments surrounding this issue.