Aditya Birla Fashion and Retail Limited — QIP/Rights/Pref., 16-01-2025: Qualified Institutional Placement

Aditya Birla Fashion and Retail Limited has announced a Qualified Institutions Placement (QIP) to raise funds by issuing equity shares with a face value of ₹10 each. The QIP committee approved the opening of the issue, setting a floor price of ₹271.28 per share. The final issue price will be determined in consultation with book running lead managers, potentially allowing for a discount of up to 5%. The funds raised through this QIP are expected to support the company's strategic initiatives, although specific projects have not been detailed.