NEW DELHI: Aditya Birla Fashion and Retail (ABFRL) on Friday mentioned its board has accredited a proposal to demerge Madura Fashion & Lifestyle enterprise, whereas it plans to increase Rs 2,500 crore fairness capital inside 12 months of demerger with promoter participation.
Earlier this month, the corporate introduced plans to demerge its quick vogue and retail enterprise Madura Fashion & Lifestyle right into a separate listed entity to unlock alternatives for worth creation.The board authorised the administration to consider the vertical demerger.
“The demerger will be implemented through an NCLT scheme of arrangement, and upon its completion, all shareholders of ABFRL will have identical shareholdings in both the companies,” the corporate mentioned in an announcement.
Earlier this month, the corporate introduced plans to demerge its quick vogue and retail enterprise Madura Fashion & Lifestyle right into a separate listed entity to unlock alternatives for worth creation.The board authorised the administration to consider the vertical demerger.
“The demerger will be implemented through an NCLT scheme of arrangement, and upon its completion, all shareholders of ABFRL will have identical shareholdings in both the companies,” the corporate mentioned in an announcement.
