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Jan 21, 2021
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CCI approves Flipkart's plan to acquire a minority stake in Aditya Birla Fashion

Published
Jan 21, 2021

On Wednesday, the Competition Commission of India announced that it has approved Flipkart Investments Private Ltd’s bid to acquire a 7.8% minority stake in Aditya Birla Fashion.

Flipkart received the go-ahead from the CCI to acquire a minority stake in Aditya Birla Fashion - Flipkart- Facebook

 
Following the infusion of an investment of Rs 1,500 crore ($225.5 million), Flipkart Group will own a 7.8% equity stake in Aditya Birla Fashion and Retail Limited on a fully diluted basis, the Press Trust of India reported. Aditya Birla Fashion had itself approved the fund raising plan in October last year. 
 
“Commission approves acquisition of a 7.8% minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd," said the CCI in a tweet.

Upon completion of the issuance, Aditya Birla Fashion’s promoter and promoter group companies will hold around 55.13% of the business, according to a regulatory filing made by the business.
 
Aditya Birla Fashion both manufactures and retails clothing, footwear, and accessories for a number of brands including Louis Philippe, Pantaloons, Van Heusen, and Madura F&L, among others. The business runs e-commerce stores, multi-brand outlets, and department stores, as well as single-brand stores. 
 
Flipkart Investments Private Ltd is a wholly-owned subsidiary of Flipkart Private Limited, which is owned by U.S.-based business, Walmart.

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