Latest news with #AdityaBirlaFashionandRetail
The Print
3 days ago
- Business
- The Print
Flipkart exits ABFRL; pares 6 pc stake for Rs 588 cr
The shares were disposed of at an average price of Rs 80.32 apiece, taking the transaction value to Rs 587.71 crore. 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.
Time of India
4 days ago
- Business
- Time of India
Flipkart's arm exits ABFRL; sells 6 pc stake for Rs 583 crore via block deals
HighlightsFlipkart Investments exited Aditya Birla Fashion and Retail by selling its entire 6 percent stake for Rs 583 crore, causing a nearly 11 percent drop in ABFRL's share price. The stake sale involved approximately 73.17 million shares sold at a floor price of Rs 79.50 each, representing a discount of about 7.6 percent to the previous closing price. This exit marks Flipkart's complete divestment from Aditya Birla Fashion and Retail, which includes popular brands such as Pantaloons, Van Heusen, and Louis Philippe. Flipkart Investments , an arm of e-commerce firm Flipkart, on Wednesday exited Aditya Birla Fashion and Retail by selling its entire 6 per cent stake in the company through block deals worth Rs 583 crore. Following the stake sale , shares of Aditya Birla Fashion & Retail ( ABFRL ) plunged nearly 11 per cent to trade at Rs 76.94 apiece on NSE. Flipkart Investments is a wholly-owned subsidiary of Flipkart Pvt Ltd (FPL). FPL belongs to the US-based Walmart Group . As per the block deal, up to 7.31 crore equity shares of ABFRL were sold at a floor price of Rs 79.50 per share. This represents a discount of about 7.6 per cent to ABFRL's closing price of Rs 86 on the National Stock Exchange (NSE) on Tuesday, as per the term sheet reviewed by PTI. Goldman Sachs is the sole bookrunner for the deal. The transaction comprises a sale of approximately 73.17 million shares (7.31 crore shares) amounting to around 6 per cent stake in Mumbai-based ABFRL. At the offer floor price, the total deal size is estimated at Rs 583 crore (USD 68.1 million) which is executed via one or more block deals on the NSE and BSE. The offer is entirely secondary in nature, with no fresh equity being issued by the company. In October 2020, ABFRL announced that it is raising Rs 1,500 crore from 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 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.
Business Standard
23-05-2025
- Business
- Business Standard
Nifty climbs above 24,750 mark; IT shares jump
The key equity indices traded with significant gains in morning trade. The Nifty traded above the 24,750 mark. The market displayed resilience despite concerns over rising interest rates in the U.S. and the widening federal deficit. Traders are expected to closely monitor bond market movements and global economic developments. IT shares jumped after declining in the past trading session. At 10:27 IST, the barometer index, the S&P BSE Sensex, added 516.63 points or 0.64% to 81,467.04. The Nifty 50 index advanced 162.60 points or 0.66% to 24,771.80. In the broader market, the S&P BSE Mid-Cap index advanced 0.15% and the S&P BSE Small-Cap index jumped 0.15%. The market breadth was positive. On the BSE, 1,942 shares rose and 1,501 shares fell. A total of 216 shares were unchanged. Result Today: JSW Steel (up 0.99%), Aditya Birla Fashion and Retail (ABFRL) (up 0.33%), Afcons Infrastructure (down1.16%), AIA Engineering (down 0.93%), Anupam Rasayan India (up 1.32%), Apollo Micro Systems (down 3.02%), Ashoka Buildcon (up 0.05%), Ashok Leyland (up 0.50%), Azad Engineering (down 0.12%), Balkrishna Industries (up 0.56%), BEML (up 0.29%), Cello World (up 0.41%), Devyani International (down 0.50%), Dreamfolks Services (up 7.47%) will announce their results later today. Buzzing index: The Nifty IT index jumped 1.87% to 37,743.75. The index fell 1.31% in the past trading session. Persistent Systems (up 2.56%), Tech Mahindra (up 2.37%), Coforge (up 2.2%), Oracle Financial Services Software (up 2.15%), Infosys (up 2.15%), HCL Technologies (up 1.83%), Mphasis (up 1.73%), Wipro (up 1.61%), Tata Consultancy Services (up 1.24%) and LTIMindtree (up 1.1%) surged. Stock in Spotlight: Grasim Industries added 1.09% after the companys consolidated net profit increased 9.2% to Rs 1,545.99 crore in Q4 FY25 as compared with Rs 1,369.82 crore in Q4 FY24. Revenue from operations jumped 17.3% YoY to Rs 44,267.26 crore during the quarter ended 31st March 2025. Metro Brands jumped 8.23%. The company reported 38.9% decline in consolidated net profit to Rs 94.75 crore in Q4 FY25 as compared with Rs 155.17 crore in Q4 FY24. Net sales jumped 10.3% YoY to Rs 642.77 crore in Q4 FY25.
Fashion Network
07-05-2025
- Business
- Fashion Network
Allen Solly Girl launches first South India store in Bengaluru
Aditya Birla Fashion and Retail's children's wear label Allen Solly Girl has opened its first exclusive brand outlet in South India at Phoenix Marketcity, Bengaluru. The launch strengthens the mall's positioning as a destination for curated, family-centric retail experiences and marks a regional milestone for the brand. The new store features a vibrant retail design intended to create an interactive environment for children and their families, Indian Retailer Bureau reported. The layout and product selection are designed to appeal to the modern urban consumer, with collections that mix everyday essentials with looks for special occasions. Catering to girls aged six to fourteen, Allen Solly Girl offers a colourful, design-led range spanning casual, party, and occasion wear, according to its Facebook page. The label focuses on wearable fabrics and trend-driven silhouettes aimed at young shoppers seeking both comfort and personal expression. This opening is part of Phoenix Marketcity Bengaluru's ongoing strategy to introduce first-in-city and region-specific brand launches. The addition of Allen Solly Girl expands its offering for children's fashion and underscores the mall's commitment to providing engaging and premium retail experiences, as well as Allen Solly Girl's ambition to reach a wider audience across key Indian metros.
Time of India
29-04-2025
- Entertainment
- Time of India
Peter England endures the cricket legacy with Kapil Dev, Sir. Vivian Richards and Harsha Bhogle
Peter England , a menswear brand from Aditya Birla Fashion and Retail has released a new campaign titled ' The League of Legends '. The campaign is a stirring tribute to the timeless spirit of cricket and its enduring legacy, brought to life by cricketing icons Vivian Richards , Kapil Dev and the voice of international cricket himself, Harsha Bhogle . The brand has taken a bold step by uniting cricket lovers with a dash of fashion —not for sports jerseys, but to create a cricket-inspired collection , 'The League of Legends' collection- an extension to the brands existing 'The Gentleman's League' Collection. At the heart of the campaign are four cinematic films that blend nostalgia, mentorship and personal legacy. Two of these brand films feature cricketing icons Dev and Richards as they step in to guide young players through moments of doubt and pressure, offering wisdom and quiet strength drawn from their own legendary careers. Clad in key pieces from the collection, the legends embody timeless grace and strength. Bhogle's evocative commentary ties the scenes together, elevating the emotional impact. Complementing these are the third and fourth reaction films, where the legends first lay eyes on their tribute tees—the '83' and '79' T-shirts with their iconic poses—designed to honour their World Cup triumphs. The emotion is raw and real, capturing just how much the game—and its legacy—continues to mean to them. Dev shared, 'This campaign brought back so many emotions. To see the spirit of '83 captured in a design—it's very special and I'm grateful to Peter England for making this. I've always believed cricket teaches you how to carry yourself. This collection does exactly that—with style and pride.' Richards said, 'Style is about confidence. And cricket—well, that's a game of confidence. It's amazing to see a collection that reflects both. That '79 tee? That's not just a t-shirt. That's history. And I'm honoured that Peter England chose me.' Bhogle added, 'This is my second season with Peter England, and I've enjoyed being a part of the brands journey in creating fashion for the cricket lover. Cricket is a narrative—a beautiful, unpredictable story. Lending my voice to these films was about celebrating those stories. I think every cricket lover will feel that same emotion when they watch this campaign.' Anil S Kumar, chief business officer, Peter England said, 'With legends like Kapil Dev, Sir Vivian Richards on board, we're paying our humble tribute to the game and everything it stands for. We love how the voice of international cricket, Harsha Bhogle himself has added passion and a real feel of commentary to our films. The League of Legends is about inspiring individuals to carry that same spirit—on and off the field.' The campaign is currently live across more than 240 stores, featuring on IPL and major digital platforms, and a series of on-ground activations, amplified through strategic content collaborations and immersive experiences.
