The board of Aditya Birla Fashion and Retail Limited (“ABFRL”) in its meeting approved raising of USD 500 Mn through a combination of preferential issuance and Qualified Institutional Placement (“QIP”) of equity shares. The Preferential issuance of USD 275 Mn will be led by the promoter group investing USD 150 Mn. and Fidelity Investments investing USD 125 Mn. The promoter participation is at a significant premium of 17.5% over yesterday’s closing price, signalling strong conviction in the value creation potential of ABFRL.

The preferential allotment will be subscribed by Fidelity Investments through its funds viz. Fidelity Blue Chip Growth Fund, Fidelity Blue Chip Growth Commingled Pool, Fidelity Blue Chip Growth K6 Fund, Fidelity Series Blue Chip Growth Fund & FIAM Target Date Blue Chip Growth Commingled Pool.

The Board also approved an equity issuance through QIP for up to USD 225mn, taking the total fund raise to USD 500 Mn.

This combined fund raise will deleverage the company and position it to aggressively pursue its growth strategy through its multiple growth engines established over the last few years.

This capital raise marks an important milestone ahead of the proposed vertical demerger of the company into two separately listed entities. The demerger exercise is expected to be completed by the end of this financial year.

The shareholder’s meeting for approving the preferential issuance is scheduled for 13th February 2025 and the relevant date for pricing of issuance will be taken as 14th January 2025.

Both preferential issuance and QIP will be subjected to customary & regulatory approvals.

About Aditya Birla Fashion and Retail Limited
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 13,996 Cr. spanning retail space of 11.9 million sq. ft. (as on March 31, 2024), it is India’s first billiondollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.

The Company has a network of 4,538 stores across approximately 37,952 multi-brand outlets with 9,047 points of sale in department stores across India (as on 30 th September 2024).
It has a repertoire of India’s largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years. Pantaloons is one of India’s leading fashion retailer,

while Style Up is an emerging value retail format. Company’s international Brands portfolio includes - The Collective, Amongst India's largest multibrand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter and Galeries Lafayette.

The Company’s foray into branded ethnic wear business includes brands such as Jaypore, Tasva & Marigold Lane. The company has strategic partnerships with Designers ‘Shantnu & Nikhil’,

‘Tarun Tahiliani’, ‘Sabyasachi’ and ‘House of Masaba’. This also encompasses the recently amalgamated TCNS portfolio of women’s ethnic brands: W, Aurelia, Wishful, Elleven, and Folksong.

In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology led ‘House of D2C Brands’ venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market.