Flipkart to dump total stake in Aditya Birla Lifestyle through Rs 950 crore block deal: Report

Flipkart Investments is ready to exit its total 6% stake in Aditya Birla Lifestyle Brands Ltd (ABLB) via block offers value round Rs 950 crore, in response to a CNBC Awaaz report. The sale will contain 7.3 crore shares at a base worth of Rs 130 per share.

The transfer marks one of many bigger exits by a personal investor from a home retail firm this yr. Multiple institutional traders are anticipated to take part within the block deal, indicating continued curiosity in India’s premium way of life and attire house regardless of latest volatility.

ABLB, a part of the Aditya Birla Group, operates below the umbrella of Aditya Birla Fashion and Retail Ltd (ABFRL) — certainly one of India’s largest branded attire and way of life conglomerates.

The firm homes a number of marquee labels corresponding to Louis Philippe, Van Heusen, Allen Solly, and Peter England, and has lately expanded aggressively into new classes like ethnic put on, activewear, and worldwide luxurious manufacturers.

Aditya Birla Lifestyle Brands serves because the group’s automobile for constructing premium and luxurious trend choices, together with partnerships with worldwide labels corresponding to Reebok, Ralph Lauren, Hackett London, and Ted Baker.

The firm has additionally ventured into new-age retail codecs and omni-channel distribution, focusing on aspirational city shoppers.The sale by Flipkart Investments comes at a time when the Aditya Birla Group has been consolidating its trend and way of life companies.Shares of Aditya Birla Lifestyle had been final seen hovering close to Rs 136 on the BSE.