Aditya Birla Fashion To Raise Rs 2,378 Cr

New Delhi: Aditya Birla Fashion and Retail Ltd (ABFRL) on Wednesday said its board has approved raising Rs2,378.75 crore from promoters and market. The board has approved a proposal to issue up to 4.08 crore shares of face value of Rs10 each at issue price of Rs317.45 aggregating Rs1,297.50 crore to Pilani Investment and Industries Corporation, a promoter group entity. Moreover, up to 3.96 crore shares of face value of Rs10 each at issue price of Rs272.37 aggregating Rs1,081.25 crore will be issued to Qualified Institutional Buyers under non-promoter category, a regulatory filing said. The investors are - Fidelity Blue Chip Growth Fund, Fidelity Blue Chip Growth Commingled Pool, Fidelity Blue Chip Growth K6 Fund, Fidelity Series Blue Chip Growth Fund and FIAM Target Date Blue Chip Growth Commingled Pool.