India’s leading fashion firm, Aditya Birla Fashion and Retail Ltd. (ABFRL) is mulling over raising funds through issuance of Non-Convertible Debentures (NCDs) on private placement basis.
In a BSE filing, the company said, “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.” However, it will be subject to the provisions of the applicable laws and requisite approvals, for requirements/operations of the company, it added.
Aditya Birla Fashion 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.
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In another development, Liva – a natural fluid fashion fabric label from Birla Cellulose – will expand its footprint in the domestic market from its current presence in 2,000 stores to 4,000 stores by the end of this year. Dilip Gaur, Managing Director, Grasim Industries said, “In spring-summer 2016, LIVA had presence in over 2000 stores across 140 cities with 7 million garments tagged to the brand and we intend to double the outlets to 4000 stores in the next two season. The growth of the brand is accelerating with each season. With the launch of Liva Connect, a B2B digital platform, we aim to give access to the unorganised sector and ensure that we widen and deepen the market at the same time.”
