Aditya Birla Lifestyle Brands share price falls 4% after listing. Do you own?
Shares of Aditya Birla Lifestyle Brands Limited (ABLBL) were listed on June 23 at ₹ 167 per share on the NSE and ₹ 167.75 on the BSE, after being demerged from Aditya Birla Fashion and Retail Limited (ABFRL). The stock's discovered price stood at ₹ 171 per share.
The BSE has announced that the stock will be moved to the T Group of Securities and will trade under the Trade-for-Trade segment for a period of 10 trading days.
As part of the arrangement, Aditya Birla Fashion and Retail Ltd (ABFRL) has demerged its Madura Fashion & Lifestyle (MFL) division, transferring it to Aditya Birla Lifestyle Brands.
Shareholders holding ABFRL shares as of the market close on May 21 will be entitled to receive shares of the newly demerged entity.
Shareholders of Aditya Birla Fashion will receive one share of the newly formed company, Aditya Birla Lifestyle Brands Ltd., for each share they hold on the record date.
This new entity will include the western wear legacy brands along with growth-focused labels such as Reebok, American Eagle, and Van Heusen innerwear. It will also encompass popular names like Louis Philippe, Van Heusen, Allen Solly, and Peter England.
Meanwhile, Aditya Birla Fashion and Retail will retain brands like Pantaloons, the ethnic wear segment under TCNS Clothing, premium designer labels such as Sabyasachi, Tarun Tahiliani, Masaba, and Shantanu-Nikhil, as well as premium offerings like Tasva and Jaypore, and luxury retail brand The Collective.
'This moment marks both a recognition of the progress we have made and a clear signal of the scale of opportunity that lies ahead. India stands at the cusp of a transformative growth phase, with consumption poised to be a primary driver. ABLBL's foundation is built on enduring strengths that set it apart in a competitive market. Our ambition is clear. To build India's first portfolio of billion-dollar brands in fashion and lifestyle," said Kumar Mangalam Birla, Chairman, Aditya Birla Group.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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