Home Private Equity Aditya Birla Fashion to sell minority stake to private equity firms

Aditya Birla Fashion to sell minority stake to private equity firms

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Aditya Birla Fashion and Retail



The board of is meeting on Tuesday to discuss selling a minority stake to to raise up to Rs 2,300 crore.


The company will utilise the funds to grow its offline business, which is witnessing a sharp turnaround after two years of slowdown due to the pandemic. The currently owns 56 per cent stake in the company and the promoters would continue to retain a majority stake, said a banker close to the development.





“There are talks going on with several players with GIC of Singapore leading the race,” said a banker.


On Monday, the stock closed flat at Rs 273 a share, thus, giving a total market valuation of Rs 25,618 crore to the company.


In the March quarter, the company’s revenue grew 25 per cent to Rs 2,283 crore over pre-Covid levels as well as over the same period of last fiscal. It also announced a 58 per cent increase in its earnings before depreciation, interest and tax at Rs 401 crore.

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