Aditya Birla Fashion Unit to Raise ₹437 Crore from ServiceNow Ventures

14 Aug 2025 , 11:15 AM

Aditya Birla Fashion and Retail Limited (ABFRL) announced on August 13 that it, along with its wholly-owned subsidiary Aditya Birla Digital Fashion Ventures Limited (ABDFVL), has entered into a shareholders’ agreement and a share subscription agreement with ServiceNow Ventures Holdings, Inc. The agreements cover an investment of up to ₹437 crore in ABDFVL by ServiceNow Ventures Holdings, Inc.

The investment will be made through the issuance of 0.0001% non-cumulative, participating compulsorily convertible preference shares (CCPS) on a preferential allotment basis via private placement.

The issue price of the CCPS will be determined based on a mutually agreed valuation in line with the terms outlined in the shareholders’ agreement. ServiceNow Ventures Holdings, Inc will be the sole investor in this issuance.

The CCPS will be converted into equity shares of ABDFVL as per the conversion terms defined in the shareholders’ agreement. The proposed investment remains subject to customary closing conditions, along with statutory and regulatory approvals, wherever applicable.

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