Aditya Birla Fashion and Retail has announced that its subsidiary, Indivinity Clothing Retail Private Limited, has allotted 36.5 million equity shares to the company through a rights issue aggregating approximately Rs 175 crore (US $18.19 million).
In a stock exchange filing, the company stated that following the allotment, Aditya Birla Fashion and Retail’s stake in Indivinity Clothing Retail would increase to 89.29% from 85.54%.
Indivinity Clothing Retail operates Tasva, a premium ethnic wear label focused on occasion and ceremonial contemporary apparel for men.
The investment comes amid continued expansion of the Tasva business. Indivinity Clothing Retail reported turnover of Rs 144.24 crore (US $15 million) in FY25, compared with Rs 100.06 crore (US $10.40 million) in FY24 and Rs 49.29 crore (US $5.12 million) in FY23, reflecting strong growth in the premium ethnic wear segment.
The capital infusion follows a series of senior leadership appointments announced by the company in March this year as part of a broader succession and transition plan.
Under the restructuring, Suraj Bahirwani was elevated as CEO (Designate) of Pantaloons and designated as Senior Managerial Personnel with effect from 1st April 2026. He is scheduled to assume the role of CEO of Pantaloons from 1st October 2026.
As part of the transition, current Pantaloons CEO Sangeeta Tanwani will continue in her role until 30th September 2026, overseeing a phased leadership handover. Thereafter, she will serve as an adviser on strategic matters to the Managing Director from 1st October 2026, until her retirement on 31st January 2027. Following her retirement, she will step down from her positions as Whole-time Director and Key Managerial Personnel.
The board also approved the appointment of Nikhil Modha as Chief Financial Officer (Designate) and Senior Managerial Personnel with effect from 1st April 2026.
Bharat Tex Special Report 2026 
