Aditya Birla Fashion to consider issuing NCDs

23 May '16

1 min read

Aditya Birla Fashion and Retail Limited is considering issuance of Non-Convertible Debentures (NCDs) on private placement basis.

“The Board of Directors of the company at its meeting to be held on May 25, 2016, inter alia, will also consider, passing of an enabling resolution for issuance and allotment of NCDs on private placement basis, in one or more tranches,” Aditya Birla Fashion said in a filing to the Bombay Stock Exchange.

However, it will be subject to the provisions of the applicable laws and requisite approvals, for requirements/operations of the company.

Aditya Birla Fashions has presence at more than 7,000 points of sale in over 375 cities and towns. These include more than 2,000 exclusive brand outlets.

Aditya Birla Fashion and Retail emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising Aditya Birla Nuvo's (ABNL's) Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle in May 2015. Post the consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd. (RKS)

Fibre2Fashion News Desk – India

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