Aditya Birla Fashion and Retail Ltd (ABFRL) plans to issue bonds on a private placement basis to raise ₹ 500 crore.
The company has proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of ₹ 10 lakh each, for a total of ₹ 500 crore on a private placement basis on or after January 13, 2023,” the Aditya Birla group firm said in a regulatory filing.
This fundraising is within the limits approved by the board and shareholders of the company,” the filing added.
ABFRL, a part of the Aditya Birla Group – a USD 60 billion global conglomerate – is India’s largest multi-brand retailer of international global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle, and Reebok.
The company’s portfolio also includes fashion brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England, as well as the fashion retailer Pantaloons.
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