Aditya Birla Fashion and Retail to raise Rs 500 Crore through NCD
With market capitalization of ₹26,345.16 Crore.Aditya Birla Fashion and Retail Ltd. is a large business that operates in the consumer discretionary industry.
The firm that carries major international fashion labels for men, women, and kids. It is India’s largest manufacturer and retailer of branded fashion apparel. Aditya Birla Fashion and Retail Ltd. (ABFRL) is subsidiary of the Fortune 500 Aditya Birla Group which is a multinational corporation with operations in 36 countries across North and South America, Africa, and Asia.
The Board of Directors of the company said that today in a stock exchange filing that they wish to inform that, the Company proposes to raise funds by issuing about 5,000 listed, unsecured, rated, redeemable some non-convertible debentures of face value of Rupees Ten Lakh only with each issued at par aggregating to about Rupees Five Hundred Crores Only and on private placement basis after January 13, 2023.
For the quarter that has ended in September 2022 .Aditya Birla Fashion and their Retail reported highest quarterly revenues ever is up 50% YoY at Rs. 3075 Cr. with a 33% growth on pre-COVID levels. Consolidated EBITDA grew to Rs. 418 Crore.
Based on outlook for the next financial year, Aditya Birla Fashion and Retail Ltd. (ABFRL) said in annual report that the next fiscal is going to be kind of race to normalcy for industry with a re-invigorated market sentiments. Your Company is looking at new fiscal with cautious optimism around markets and consumer preferences.
The Indian economy is headed towards steady recovery, glimpses of which was also evident during the festive season of FY22. As vaccination drives progress throughout country, consumers are also expected to get back to shopping with renewed confidence.
As mobility picks up, the demand for categories include formals, occasion wear, festive wear and accessories will recover.
For long term, India remain on a strong valve creation path that consider the underlying growth drivers like favourable demographics, increasing per capita and disposable income and growing consumption. With a digitally and structurally transformed business.
Company is on a growth trajectory to make most of post-pandemic opportunities. Capital structure of company has undergone a significant change and the balance sheet has further strengthened.It aslo giving necessary foundation to support the ambitious growth plans that it chases.
A strong and healthy balance sheet with diverse and well-executed portfolio play which enable your Company to position itself as leader across all fashion and lifestyle Segments, ranging from value to brand.
The shares of Aditya Birla Fashion and Retail Ltd closed at ₹278.75 apiece level which is down by 0.32% from the previous close of ₹279.65. The stock also recorded a total volume of 2,523,914 that shares compared to the 20-Day average volume of 1,782,717 shares. In the last 1 year, the stock has fallen by 4.55%