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ABFRL plans to raise Rs 2500 crore by splitting its retail business, creating ABLBL with brands like Louis Phillippe, Peter England, and Sabyasachi. The demerger aims to unlock value and support growth through equity raise.
ABFRL plans to raise Rs 2500 crore by splitting its retail business, creating ABLBL with brands like Louis Phillippe, Peter England, and Sabyasachi. The demerger aims to unlock value and support growth through equity raise.
Upon completion of the demerger, the shareholders of ABFRL will get one share of ABLBL (now Madura Fashion and Lifestyle) for every one share in ABFRL, in addition to their existing shareholding in ABFRL.
Stocks to watch: Shares of firms like Maruti, Axis Bank, Paytm, Patanjali, Lupin, ABFRL, and others will be in focus on Wednesday's trade.
Following the controversy surrounding misleading advertisements by Patanjali, Baba Ramdev and Acharya Balkrishna have submitted affidavits to the Supreme Court, offering "unconditional, unqualified" apologies.