Aditya Birla Fashion share price jumps 15% on demerger plan

Aditya Birla Fashion and Retail Share Price: The proposed demerger will enable the creation of two separately listed companies.

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Aditya Birla Fashion and Retail (ABFRL) share price rose 15 percent intraday on April 2 after the company’s board authorised the management to evaluate vertical demerger of Madura Fashion & Lifestyle business from ABFRL into a separate listed company.

At 09:55am, Aditya Birla Fashion & Retail was quoting at Rs 237.70, up Rs 26.00, or 12.28 percent, on the BSE.

It has touched an intraday high of Rs 243.45 and an intraday low of Rs 229.70.

Around 1.34 crore shares of Aditya Birla Fashion & Retail (1.41 percent equity) worth Rs 322.5 crore changed hands at an average Rs 243 per share, reported CNBC-TV18.

The proposed demerger will enable the creation of two separately listed companies as independent growth engines with distinct capital structures and parallel value creation opportunities, the company said in a release.

Post necessary approvals, the demerger will be implemented through an NCLT scheme of arrangement, and all shareholders of ABFRL will have identical shareholding in the newly formed entity, it added.

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Post demerger, the remaining ABFRL will be focused on high-growth segments where there are tailwinds from a shift from unbranded to branded, premiumisation, rise of super premium & luxury, and rapid growth in Gen Z focused digital first brands.

Subsequent to the completion of the proposed demerger, ABFRL will raise growth capital within 12 months to infuse strength into its balance sheet, positioning itself well to pursue the large growth opportunity that lies ahead of it.

Post-demerger, the portfolio of ABFRL would consist of:

• Value Retail: Value and masstige fashion retail play under Pantaloons and Style Up
• Ethnic Portfolio: One of India’s most comprehensive ethnic wear portfolio covering multiple occasions, price points, and consumer segments, including designer wear portfolio
• Luxury: A fast-growing bridge to luxury and luxury platform of The Collective, Galleries Lafayette, and select luxury brands
• Digital brands: TMRW; a leading portfolio of digital first fashion brands