India’s leading apparel retailer, Aditya Birla Fashion and Retail (ABRFL) plans to raise Rs. 750 crore on or after 4thSeptember through debt bonds.
The company said in a regulatory filing that it will raise funds on a private placement basis.
As per the 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. 750 crore on private placement basis, on or after 4thSeptember 2023.
The company also said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer. The 29 per cent stake is estimated to be over Rs. 941 crore.
With around 3,977 stores and 28,500 employees, ABRFL, a part of Aditya Birla Group has a revenue of Rs. 12,418 crore and it is on a growth path.
