Aditya Birla Fashion Ltd. successfully completes ~ Rs. 1860 Cr QIP
Summary
Aditya Birla Fashion and Retail Limited (ABFRL) has announced the completion of the fundraise through a Qualified Institutional Placement (QIP) of equity shares aggregating to ~ Rs 1,860 crores.The QIP Committee of the Board of Directors of the Company (QIP Committee) has, at its meeting held today i.e., January 21, 2025, approved the issue and allotment of 68,583,059 equity shares of face value Rs 10 each to eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 271.3 per Equity Share (including a premium of Rs 261.3 per Equity Share), aggregating to ~ Rs 1,860 crores.The Companys first-ever QIP transaction which opened on January 16, 2025, and closed on January 21, 2025, received an overwhelming response from prominent domestic and foreign institutional investors, with a subscription of ~ 2X. 1,081 crores.The successful fundraise reflects investor confidence in the high-growth potential of Indias fashion industry and the Companys distinctive position as a leading player in the market. The fundraise will make the consolidated entity debt-free and pave the way for the rapid expansion of key growth platforms established over the last few years.Mr. Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Ltd. said The robust investor interest underscores the inherent strength and long-term potential of our brands and the distinctiveness of our business model. This strategic capital infusion positions us to expedite our growth trajectory at a pivotal moment in Indias evolving consumption landscape.