Flipkart to buy 7.8% stake in ABFRL for Rs 1,500 crore; preferential allotment price set at Rs 205

NEW DELHI: Aditya Birla Fashion and Retail NSE 4.40 % (ABFRL) would raise Rs 1,500 crore from Flipkart, the company informed stock exchanges on Friday.

The money would be raised through preferential allotment of shares to Flipkart, who will own 7.8 per cent stake in ABFRL. The issue price of the preferential allottment is set at Rs 205, which is 33.63 per cent higher than Thursday’s closing price of Rs 153.40.