Aditya Birla Fashion To Raise Rs 750 Crore
In a separate filing, the company said that it has completed the acquisition of a 29% stake in TCNS Clothing Ltd. pursuant to the open offer.
Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday.
The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail said in a regulatory filing.
"The Company proposes to raise funds by issuing 75,000 listed, unsecured, rated, redeemable non-convertible debentures of face value of Rs 1,00,000 each issued at par aggregating to Rs 7,50,00,00,000, on private placement basis, on or after September 4, 2023," the filing said.
In a separate filing, the company said that it has completed the acquisition of a 29% stake in TCNS Clothing Ltd. pursuant to the open offer.
The 29% stake is estimated to be over Rs 941 crore.
As per an earlier announcement, ABFRL acquired a 51% stake in TCNS for about Rs 1,650 crore.