InvestorQ : What is Aditya Birla Fashions launching the rights issue for?
vaishnavi mhatre made post

What is Aditya Birla Fashions launching the rights issue for?

Answer
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Mary Joseph answered.
5 months ago


Aditya Birla Fashions will soon launch its rights issue worth Rs.1000 crore as part of its fund-raising plans this year. ABF is India’s largest pure-play fashion and lifestyle player with a network of over 3,040 stores and presence across 25,000 multi-brand outlets. The board will meet on 03 June to take a final call. The rights issue will allow the company to reducing debt and to strengthen its balance sheet. Like in the RIL rights issue, the promoters will be fully subscribing to their entitlement. Details on the timing of the issue are still awaited.