Aditya Birla Fashion: Aditya Birla Fashion and Retail Group Company is planning to take a big loan. It has been said in a report that Aditya Birla Fashion Company will raise a debt of Rs 700 to 800 crores for the acquisition of TCNS Clothing Company. The company says that it is in dire need of this loan.
Aditya Birla’s Managing Director Ashish Dixit said that the company’s balance sheet is very strong and in such a situation, there is a plan to raise a loan of Rs 700 to 800 crores. Aditya Birla Group had entered into an agreement on Friday for 51 per cent stake in TCNS. The deal was done for Rs 1,650 crore.
11 shares will be available for 6 shares
As per the deal, Aditya Birla Group had set a condition to pick up 29 per cent stake through an open offer at Rs 503 per share from public shareholders and founder promoters. A total of 51 per cent stake in TCNS has been dealt. After the purchase, TCNS will be merged with Aditya Birla’s fashion company. With this, shareholders will get 11 shares of Aditya Birla for every 6 shares held.
This company makes women’s clothes
TCNS manufactures and sells women’s clothing from different brands. It has a good hold in the clothing market. TNC had sold Rs 896 crore during FY 2022. It has 650 outlets and 2,300 large format store outlets.
Plan to earn profit of Rs 5000 crore
Five years ago, Aditya Birla Group 6 entered into the subcategory business. These include lifestyle, pantaloons, youth fashion, super premium and ethnic. Aditya Birla focuses on western style clothing and women’s business. Aditya Birla plans to take ethnic wear to Rs 5,000 crore in the next three years.
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