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Aditya Birla Fashion to raise $500 million equity through preferential issue, QIP
The Morning Standard
|January 16, 2025
AHEAD of its planned demerger into two separate entities and their subsequent listing, Aditya Birla Fashion & Retail has finalised a capital raising plan of $500 million through a combination of preferential issuance and qualified institutional placement of shares.
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The board of the company on Wednesday approved a preferential issue worth $275 million, which will be led by the promoter group investing $150 million and Fidelity Investments investing $125 million.
The promoter participation is at a significant premium of 17.5% over Tuesday's closing price.
This story is from the January 16, 2025 edition of The Morning Standard.
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