Aditya Birla Fashion inches up on acquiring stake in TCNS Clothing
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Aditya Birla Fashion and Retail is currently trading at Rs. 219.40, up by 0.05 points or 0.02% from its previous closing of Rs. 219.35 on the BSE.
The scrip opened at Rs. 219.55 and has touched a high and low of Rs. 220.90 and Rs. 218.10 respectively. So far 22374 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 359.40 on 02-Nov-2022 and a 52 week low of Rs. 184.40 on 23-May-2023.
Last one week high and low of the scrip stood at Rs. 222.95 and Rs. 212.60 respectively. The current market cap of the company is Rs. 20782.25 crore.
The promoters holding in the company stood at 55.47%, while Institutions and Non-Institutions held 31.07% and 13.46% respectively.
Aditya Birla Fashion has completed the acquisition of 1,87,12,577 equity shares being 29% of the Expanded Share Capital (as defined in the letter of offer for the Open Offer) of TCNS Clothing Co. pursuant to the Open Offer, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendment thereto. The acquisition of Sale Shares (as defined in the letter of offer for the Open Offer) under the SPA (as defined in the letter of offer for the Open Offer) will be completed within the time period stipulated under the SPA.
Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
