Join our Waitlist for Expert Advice!

Aditya Birla Fashion To Acquire 51% Stake in TCNS Clothing ABFRL will make a conditional open offer to acquire up to a 29 per cent stake at INR 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51 per cent

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Twitter

Aditya Birla Fashion and Retail Ltd (ABFRL) will acquire a 51 per cent stake in TCNS Clothing, which owns W, Aurelia, Wishful, Folksong, and Elleven, for INR 1,650 crore.

The transaction will be carried out through acquisition of the founding promoter's stake through a SPA and a conditional public open offer followed by a merger between the two entities, the company said in an exchange filing on Friday.

Over the last five years, ABFRL has built its ethnic portfolio through a series of strategic and calibrated actions. With this acquisition ABFRL's ethnic wear portfolio is expected to reach INR 5,000 crore in the next three years.

"This deal is yet another marker of the Aditya Birla Group's faith in the dynamism and buoyancy of the Indian consumer economy. With this acquisition, the fast-growing ABFRL platform is poised for the next phase of transformational growth," said Kumar Mangalam Birla, chairman, Aditya Birla Group.

" Over the last 20 years, we have built a women's franchise on the back of our leading brands. The market continues to offer long-term growth opportunities and our partnership with ABFRL will help us fully realize this potential. ABFRL's proven brand- building capability, distribution strength and strong ecosystem of partners will help our brands into its next phase of growth and profitability,"said Anant Daga, managing director, TCNS.

As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29 per cent stake at INR 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51 per cent in TCNS.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
Business News

Meta Fires Employee Making $400,000 Per Year Over a $25 Meal Voucher Issue

Other staff members were fired for the same reason, per a new report.

Thought Leaders

These 3 Trends Will Change What It Means to Be an Entrepreneur in 2025

Here are three entrepreneurship trends from the new Global Entrepreneurship Monitor report that are changing the landscape for the future.

Leadership

4 Bold Leadership Moves Every Successful CEO Uses to Navigate Change

Ready to turn fear into fuel and lead with confidence? In this article, I share how leaving my corporate job without a plan led me to build a thriving business. Learn four bold strategies to embrace uncertainty and turn challenges into opportunities for growth today.

News and Trends

Google Upgrades Gemini with New Features To Encourage Switch from Google Assistant

The upgrades include Gemini extensions, simple on-screen prompt and lock screen