Aditya Birla Fashion and Retail Ltd (ABFRL) plans to raise funds through issuance of Non-Convertible Debentures (NCDs) on private placement basis.
“The Board 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,” it said in a BSE filing.
This will be subject to the provisions of the applicable laws and requisite approvals, for requirements/operations of the company, it added.
Formerly known as Pantaloons Fashion & Retail Ltd, ABFRL has a portfolio of brands spans from luxury to super premium, premium, sub-premium to fast fashion segments. It has over 7,000 points of sale across over 375 cities and towns, which include more than 2,000 exclusive ABFRL brand outlets.
ABFRL was formed after the consolidation of the branded apparel businesses of Aditya Birla Nuvo Ltd (ABNL’s) Madura Fashion and ABNL’s subsidiaries Pantaloons Fashion & Retail as well as Madura Fashion & Lifestyle in May 2015.