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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Aditya Birla Fashion and Retail Limited    535755   INE647O01011

ADITYA BIRLA FASHION AND RETAIL LIMITED

(535755)
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Flipkart to Invest $204 Million in India's Aditya Birla Fashion & Retail

10/23/2020 | 07:14am EST

Walmart Inc.'s Flipkart Group will invest more than $200 million in India's Aditya Birla Fashion & Retail Ltd. as part of its efforts to ramp up retail operations in the world's second most populous country.

Aditya Birla said Friday it will raise 15 billion rupees ($203.6 million) from Flipkart, an India-based e-commerce startup controlled by Walmart, in a preferential offering of shares. Flipkart will have a 7.8% stake in Aditya Birla.

Mumbai-based Aditya Birla offered the shares at INR205 each, a nearly 34% premium to Thursday's closing price. Shares on Friday closed 7.6% higher at INR165.05.

Aditya Birla said it will use the proceeds to strengthen its balance sheet and scale up existing businesses.

"This partnership is an emphatic endorsement of the growth potential of India," said Kumar Mangalam Birla, Aditya Birla's chairman. "It also reflects our strong conviction in the future of the apparel industry in India, which is poised to touch $100 billion in the next five years.

Write to Singapore editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

10-23-20 0713ET

Stocks mentioned in the article
ChangeLast1st jan.
ADITYA BIRLA FASHION AND RETAIL LIMITED -0.99% 155.35 End-of-day quote.-33.00%
BIRLA CORPORATION LIMITED -1.53% 726.2 End-of-day quote.19.01%
WALMART INC. 0.28% 151.36 Delayed Quote.27.36%
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More news
Financials
Sales 2021 54 223 M 732 M 732 M
Net income 2021 -6 008 M -81,1 M -81,1 M
Net Debt 2021 10 682 M 144 M 144 M
P/E ratio 2021 -25,0x
Yield 2021 -
Capitalization 134 B 1 814 M 1 813 M
EV / Sales 2021 2,67x
EV / Sales 2022 1,70x
Nbr of Employees 23 269
Free-Float 39,9%
Chart ADITYA BIRLA FASHION AND RETAIL LIMITED
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Aditya Birla Fashion and Retail Limited Technical Analysis Chart | 535755 | INE647O01011 | MarketScreener
Technical analysis trends ADITYA BIRLA FASHION AND RETAIL LIMITED
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Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 155,35 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Ashish Dikshit Managing Director & Executive Director
Jagdish Bajaj Chief Financial Officer & Chief Risk Officer
Praveen Shrikhande Chief Digital & Information Officer
Sushil Kumar Agarwal Non-Executive Director
Sukanya Anand Kripalu Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ADITYA BIRLA FASHION AND RETAIL LIMITED-33.00%1 827
INDUSTRIA DE DISEÑO TEXTIL, S.A.-13.55%100 053
KERING SA4.24%90 087
FAST RETAILING CO., LTD.27.69%79 260
ROSS STORES, INC.-6.38%38 513
HENNES & MAURITZ AB-7.47%33 721