Flipkart Investments to sell full stake in ABLB via $114-mn block deal

Flipkart Investments is set to sell 73 million at a base price of ₹130 per share, domestic media outlets reported. It had invested ₹15 billion in Aditya Birla Fashion and Retail Ltd (ABFRL) to acquire a 7.8-per cent stake in 2020.

ABLBL emerged after the vertical demerger of western wear brands within the Madura Fashion and Lifestyle’s business from ABFRL.

ABLBL has Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter, American Eagle—the innerwear business under Van Heusen, and the sportswear business of Reebok in its portfolio.

Meanwhile, ABFRL is raising ₹4.37 billion in its maiden external funding round to fuel its digital house of brands venture TMRW. During the launch of TMRW in 2022, ABFRL said it would build a portfolio of 30 fashion and lifestyle brands by 2025 either through acquisitions or incubating the brands.

ALCHEMPro News Desk (DS)