03 Jul, 10:44 - Indian

SENSEX 79951.35 (0.64)

Nifty 50 24282.2 (0.66)

Nifty Bank 53158.75 (1.90)

Nifty IT 37217.2 (-0.22)

Nifty Midcap 100 56132.3 (0.50)

Nifty Next 50 72421.65 (0.86)

Nifty Pharma 19937.1 (0.76)

Nifty Smallcap 100 18628.15 (0.64)

03 Jul, 10:44 - Global

NIKKEI 225 40642.21 (1.42)

HANG SENG 17924.31 (0.87)

DOW JONES 39331.85 (0.41)

S&P 5509.01 (0.62)

Login/Signup

Live News

You are Here : Home > Markets > News > Live News

(20 Apr 2024, 16:32)

ABFRL board OKs to demerge Madurai Fashion & Lifestyle biz

Aditya Birla Fashion Retail (ABFRL) said that its board has approved the proposal of vertical demerger of Madura Fashion and Lifestyle business (MFL Business) from the company into a newly incorporated company named as Aditya Birla Lifestyle Brands.

Aditya Birla Lifestyle Brands (ABLBL) will be listed separately on completion of the demerger.

The demerger is expected to unlock significant value for the shareholders of ABFRL as each of the listed entities will have their own distinct capital structures, independent growth trajectories and value creation opportunities.

The business assets and liabilities will be split between the two companies in accordance with the prescribed regulatory provisions. In line with this, the overall ABFRL borrowing, which is estimated to be around Rs 3,000 crore as of 31st March 2024, will be split between the two companies. The estimated debt to be transferred to ABLBL will be approximately Rs 1,000 crore and the balance will continue to stay with ABFRL.

Post-demerger, Aditya Birla Lifestyle B...

More News
More Company News