Fashion retailer ABFRL raises Rs.1,860-Cr via QIP

Mumbai-headquartered Aditya Birla Fashion and Retail Ltd (ABFRL) has raised INR 1,860 crore through a Qualified Institutional Placement (QIP) of equity shares. The fashion retailer alloted 6.85 crore equity shares of face value INR 10 each to eligible Qualified Institutional Buyers (QIBs) at an issue price of INR 271.3 per equity share to raise the sum.Avendus Capital, Goldman Sachs (India) Securities, and Jefferies India were the managers for the QIP offering.