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Aditya Birla Fashion to raise Rs 1,500 crore by selling 7.8% stake to Flipkart

Shortpedia

Content Team
Image Credit: Shortpedia

E-retail major Flipkart is going to acquire a 7.8% stake in Aditya Birla Fashion & Retail Ltd for Rs 1,500 crore by preferential share infusion. Flipkart agreed to buy the stake at Rs 205 per equity share. "The Investment Agreement inter-alia provides for some rights such as preemption rights and right of first refusal which are for a limited period of between 1-5 years from the date of allotment of equity shares," ABFRL said.