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HomeMarket NewsAditya Birla Fashion launches QIP to raise funds; Check floor price and other details
Aditya Birla Fashion has fixed the floor price of the QIP at ₹271.28, which is a 1.7% discount to Thursday's closing price.
By Hormaz Fatakia January 17, 2025, 7:10:20 AM IST (Published)
Aditya Birla Fashion & Retail Ltd., the Aditya Birla Group company, has launched its Qualified Institutional Placement (QIP)to raise funds.
The company in an exchange filing late on Thursday evening, said that the board approved the launch of the institutional share sale.
Aditya Birla Fashion has fixed the floor price of the QIP at ₹271.28, which is a 1.7% discount to Thursday's closing price.
Earlier this week, Aditya Birla Fashion had approved a fund raise worth nearly ₹5,000 crore through a QIP and a preferential issue of shares.
The board had approved raising a sum of up to ₹2,500 crore through the QIP.
The company will also issue shares up to ₹1,298 crore to promoter Pilani Investment and up to ₹1,081 crore to Fidelity Group in non-promoter category on preferential basis.
Shares of Aditya Birla Fashion had ended 4% higher on Thursday at ₹276. The stock has risen 23% so far in the last 12 month.
