Flipkart exits ABFRL; pares 6 pc stake for Rs 588 cr
Bengaluru-based Flipkart through its arm Flipkart Investments Pvt Ltd sold 7,31,70,731 shares, amounting to a 6 per cent stake in Aditya Birla Fashion and Retail (ABFRL), as per the bulk deal data available on the NSE.
New Delhi, Jun 4 (PTI) Flipkart on Wednesday exited Aditya Birla Fashion and Retail by selling its entire 6 per cent stake in the fashion retailer for Rs 588 crore through an open market transaction.
Details of the buyers of Aditya Birla Fashion and Retail's shares could not be identified on the National Stock Exchange (NSE).
US-based retail giant Walmart is the parent entity of Flipkart.
Shares of Aditya Birla Fashion and Retail slumped 10.37 per cent to close at Rs 77.08 apiece on the NSE.
In October 2020, ABFRL announced a fundraising of Rs 1,500 crore from the Flipkart Group.
Last month, ABFRL said its consolidated net loss narrowed to Rs 23.55 crore in the fourth quarter ended March 2025, from a net loss of Rs 266.36 crore a year ago.
Revenue from operations rose to Rs 1,719.48 crore during the quarter under review from Rs 1,575.12 crore in the year-ago period.
Flipkart's exit marks a complete divestment of its holdings in ABFRL, which houses brands such as Pantaloons, Van Heusen, and Louis Philippe. PTI HG ANU DRR
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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