ABFRL Plans Rs 750 Crore Bond Raise and Completes TCNS Clothing Stake Buy

1 Sep 2023 , 12:09 PM

Aditya Birla Fashion and Retail (ABFRL) plans to raise Rs 750 crore through debt bonds, with fundraising set to commence on or after September 4, 2023. The company intends to raise funds via private placement, as indicated in a regulatory filing.

ABFRL will issue 75,000 listed, unsecured, rated, redeemable non-convertible debentures, each with a face value of Rs 1,00,000 (Rupees One Lakh only), to be issued at par. The total aggregated amount from these debentures will be Rs 7,50,00,00,000 (Rupees Seven Hundred Fifty Crores Only).

The fundraising initiative is scheduled to begin after September 4, marking a significant financial move for ABFRL. In a separate filing, ABFRL announced the successful completion of its acquisition of a 29 % stake in TCNS Clothing Co Limited through an open offer.

The estimated value of this 29 % stake acquisition stands at over Rs 941 crore, demonstrating ABFRL’s commitment to expanding its presence in the retail and fashion industry.

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