Aditya Birla Fashion rights issue to open on July 8

Our Bureau Mumbai | Updated on June 29, 2020

Aditya Birla Fashion and Retail Ltd on Monday said that it rights issue of ₹995-crore will open on July 8.

The company said that 50 per cent of the amount need to be paid on application, 25 per cent in January 2021 and 25 per cent in July 2021.

The promoters and promoter group of Aditya Birla Fashion will fully subscribe to the extent of their rights entitlement (RE) and do not intend to renounce such rights, except to the extent of renunciation within the promoters and promoter group.

They will also subscribe to any additional equity shares in the issue, amongst themselves, for ensuring subscription to the extent of at least 90 per cent of the issue (in case of under-subscription below 90 per cent in the issue) and such subscription shall be subject to applicable laws.

The issue size consists of 9,04,65,693 partly paid-up equity shares of face value ₹10 each. Rights entitlement ratio will be nine partly-paid rights equity shares for every 77 existing fully-paid shares held by eligible equity shareholders as on the record date.

The issue price is set at ₹110 per fully paid-up equity share, including a premium of ₹100 an equity share.

Published on June 29, 2020

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