The ABFRL Board of Directors will organize a fundraiser on May 24


Aditya Birla Fashion and Retail after market hours on Thursday announced that a meeting of the company’s board of directors will be held on Tuesday, May 24, 2022 to consider the capital raising proposal.

The Board of Directors of the Company will consider raising funds through the issuance of shares, convertible bonds, warrants, debentures or any other securities, by authorized methods, including but not limited to limited thereto, a placement in qualified institutions, a preferential allocation, a rights issue, a new public offering, etc.

ABFRL is part of a major Indian conglomerate, the Aditya Birla Group. It is India’s first billion-dollar fashion powerhouse, with a stylish bouquet of top fashion brands and retail formats.

The distribution company announced its fourth quarter results on May 18, 2022. Aditya Birla Group company reported consolidated net profit of Rs 43.59 crore in Q4 FY22 vs. consolidated net loss of Rs 137.64 crore in Q4 FY21 . Net sales increased by 25.3% to Rs 2,282.83 crore in Q4 FY22 compared to Q4 FY21.

Shares of ABFRL ended up 0.69% at Rs 270.25 on Friday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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