Flipkart to buy stake in Aditya Birla Fashion

Flipkart to buy stake in Aditya Birla Fashion

Aditya Birla Fashion & Retail (ABFRL) share price added over 6 percent on October 23 as Flipkart to buy a stake in the company for Rs 1500 crore. Flipkart is buying a 7.8% stake in Aditya Birla Fashion for Rs 1500 crore at Rs 205 per share. The Aditya Birla Fashion board approved the issuance of equity shares on a preferential basis to Flipkart Investments Private Limited, a foreign portfolio investor, aggregating to Rs 1500 crore.