Indian conglomerate Aditya Birla Fashion and Retail Ltd (ABFRL) has received approval from its board to strengthen its capital base through a $500m equity raise. The initiative is set to involve a mix of preferential allotment and a qualified institutional placement (QIP).

Aditya Birla Fashion had approved a fund raise worth nearly ₹5,000 crore through a QIP and a preferential issue of shares.

Aditya Birla Fashion and Retail (ABFRL) has shared its decision to raise USD 500 million through a Qualified Institutional Placement (QIP) and preferential issue of shares. The move aims to bolster its financial position and fund its strategic growth initiatives,

Aditya Birla Fashion and Retail Ltd. plans to raise significant funds by issuing equity shares, subject to approvals. The company aims to raise ₹1,297.5 crore through promoter shares and ₹1,081.25 crore from institutional buyers,

Aditya Birla Fashion and Retail Ltd. on Wednesday raised nearly Rs 4,900 crore by selling shares to promoter entity via preferential issue and qualified institutional placement.

Aditya Birla Fashion will also issue shares up to ₹1,298 crore to promoter Pilani Investment and up to ₹1,081 crore to Fidelity Group in non-promoter category on preferential basis.

Aditya Birla Fashion and Retail (ABFRL) plans to raise $500 million through a mix of preferential issuance and qualified institutional placeme.

MUMBAI: Ahead of its planned demerger into two separate entities and their subsequent listing, Aditya Birla Fashion & Retail has finalised a capital raising plan of USD 500 million through a combination of preferential issuance and qualified institutional placement of shares.