October 23, there was a big stock price upsurge for Aditya Birla Fashion and Retail [ABFRL] which is over 6 per cent.
It happened because Flipkart announced that approximately Rs 1500 crore that is 7.8 per cent stake Flipkart is buying in Aditya Birla and fashion.
The main owner or promoter of the Aditya Birla group will hold about 51 per cent after the whole deal is done.
Aditya Birla fashion board has approved all of this and the shares.
Kumar Mangalam Birla, Chairman Aditya Birla Group. said this partnership is gonna be so good for both the companies and India as well. people will be happy that India is growing.
Something better will be out there for people in a few years.
They have a strong goal and a mission to achieve which will be very good for the country and that is five years down the lane they should $1000 bn dollars.
Aditya Birla Fashion and Retail [ABFRL] plans to use the capital at the right place at the right time to strengthen the company and make it a better and a big one.
Also have to strengthen the balance sheet and keep a hold and track of the growth of the company.
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