Dhimaji: Abfrl board agrees to Dhimaji in Madura Delhi News

NEW DELHI: Aditya Birla Fashion and Retail Ltd (ABFRL) on Friday approved the proposed demerger of its Madhura Fashion & Lifestyle business while its board of directors approved the proposed demerger of its Madhura Fashion & Lifestyle business, with the participation of promoters, to raise ¥2.5 billion within 12 months after demerger. The company announced plans to raise equity capital of Rs. The company has announced plans to demerger its fast fashion and retail business Madhura Fashion & Lifestyle into a separate listed company to unlock value creation opportunities. The board has authorized management to evaluate the vertical split. “The demerger will be implemented through NCLT’s scheme of arrangement and upon completion, all ABFRL shareholders will hold equal shares in both companies,” the company said in a statement.agency

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