Aditya Birla Fashion and Retail can raise Rs. 500 crore

India’s leading fashion retail company Aditya Birla Fashion and Retail Ltd (ABFRL) and part of the US $ 60 billion global conglomerate, Aditya Birla Group can raise Rs. 500 crore through issuance of bonds on private placement basis.

In a regulatory filing, Aditya Birla Group said that the company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs. 10 lakh each, issued at par aggregating to Rs. 500 crore on private placement basis, on or after 13th January 2023.

It further added that this is within the limits approved by the board and shareholders of the company.

ABFRL, is India’s largest multi-brand retailer of international global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.

The company portfolio also includes fashion brands — Louis Philippe, Van Heusen, Allen Solly and Peter England — and fashion retailer Pantaloons.

Last year, the company said that it will be raising up to Rs. 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund. GIC, a global institutional investor, will first invest Rs. 770 crore towards subscription of equity and warrants, followed by up to Rs. 1,425 crore in one or more tranches within 18 months upon exercise of warrants.

Also Read: Aditya Birla Fashion and Retail to raise up to Rs. 2,195 crore