Aditya Birla Fashion & Retail (ABFRL) has announced the completion of the fundraise through a Qualified Institutional Placement (QIP) of equity shares aggregating to Rs 1,860 crore.
The QIP Committee of the Board of Directors of the Company has, at its meeting held om 21 January 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 toRs 1,860 crore.
The Company's first-ever QIP transaction which opened on 16 January 2025, and closed on 21 January 2025, received an overwhelming response from prominent domestic and foreign institutional investors, with a subscription of
2X.
The successful QIP comes on the back of a preferential issuance of Rs. 2,379 crore, with participation from promoter group, investing Rs.1,298 crore and Fidelity Investments, investing Rs. 1,081 crore.