Deal Closed | Aditya Birla Fashion and Retail Limited | Rights Issue

Sector: Retail

Announcement date: 29-Jun-2020

Completion date: 07-Aug-2020

Name of client: Aditya Birla Fashion and Retail Limited

Deal description: Issue of 9,04,65,693 partly paid-up shares of face value of Rs 10 each of Aditya Birla Fashion and Retail Limited for cash at a price of Rs 110 per rights equity share (including a premium of Rs 100 per rights equity share) aggregating to Rs 9,95,12,26,230 on a rights basis to the eligible equity shareholders of the company in the ratio of 9 (nine) rights equity shares for every 77 (seventy seven) fully paid-up equity shares.

Total consideration: INR 995 crores USD 133.3 million

Team members: Abhimanyu Bhattacharya (Partner), Oishik Bagchi (Principal Associate), Drishti Barar (Associate) and Aparna Bagree, (Associate)

Role of firm: Legal Advisor to the Lead Managers as to Indian law

Financial advisors: Lead Managers to the Issue - ICICI Securities Limited, SBI Capital Markets Limited, Axis Capital Limited, BNP Paribas and CLSA India Private Limited

Other legal advisors if any with names of Lead Lawyers: Cyril Amarchand Mangaldas as the Legal Advisor to our Company as to Indian law and Squire Patton Boggs Singapore LLP as Special Purpose International Legal Counsel to the Lead Managers

Unique Feature of Transaction: Aditya Birla Fashion and Retail Limited is one of India’s largest pure-play fashion and lifestyle companies in terms of revenue which includes leading apparel brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England, Pantaloons, Forever 21 etc.