ABFRL secures Sebi exemption in Rs 2,195 crore investment by Caladium

Aditya Birla Fashion and Retail Limited (ABFRL) said on Wednesday that market regulator SEBI had granted it an exemption on the listing of shares worth Rs 2,195 crore attributed to Caladium Investment Pte Ltd, an overseas portfolio investor .

Based on the approval in principle received from the stock exchanges, the Aditya Birla Group company had applied to the stock exchanges which approached SEBI and requested an exemption under SCRR Rule 19(7) from Rule 19(2) (b) ), in connection with the proposed listing of the warrants under the Company’s preferential issue.

“In this regard, we wish to inform you that SEBI has sent its letter dated September 7, 2022 to the stock exchanges indicating that it has granted the Company a relaxation of the applicability of Rule 19 (2) (b) of the SCRR for the preferential issuance of listed mandates,” he said.

Under Rule 19(2)(b) of the SCRR, exemptions are granted to listed companies from making a public offering for listing of securities different from existing listed securities.

Earlier on May 24, ABFRL announced that it had raised up to 2,195 crore rupees from Singapore’s sovereign wealth fund GIC.

“GIC will now invest Rs 770 crore in equity and warrant subscription, followed by up to Rs 1,425 crore in one or more tranches within 18 months of exercise of the warrants. total investment, GIC will hold a 7.5% stake in ABFRL,” he added.

After the transaction, Aditya Birla Group will hold a 51.9% stake in the company.

ABFRL under the Madura Fashion and Lifestyle business is a directory of major clothing brands such as – Louis Philippe, Van Heusen, Allen Solly and Peter England.

While its portfolio of international brands includes The Collective, the largest multi-brand retailer of international brands in India, Simon Carter and some mono-brands such as Forever 21, American Eagle, Ralph Lauren, Ted Baker and Fred Perry.

It also owns the fashion chain Pantaloons which has more than 370 stores in 180 cities.

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