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Issuer Details & deal Highlights
- Aditya Birla Fashion & Retail Ltd. (“ABFRL”) is one of India’s largest pure-play fashion and lifestyle companies in terms of revenue with a strong bouquet of leading fashion brands and retail formats across various segments and categories with pan-India distribution.
- Company’s portfolio comprises the Madura Segment which includes branded apparels and accessories including lifestyle brands, fast fashion, global brands, innerwear and other businesses, and the Pantaloons Segment which houses the large format retail business
Objects of the Issue:
- Repayment of certain borrowings of the Company – INR 7.45 Bn.
- General Corporate Purposes – INR 2.44 Bn.
SBICAPS Trusted Partner for ABFRL Rights Issue
- SBICAPS was one of the two initial bankers to be on-boarded on the deal
- Gained an edge over Axis Capital both in terms of role and fees
- Trusted by company to create the Corporate Presentation within a quick turnaround time
- Substantial role including, Domestic Marketing and Post Issue Co-ordinator
- Responsible for the Top 21 existing Institutional Shareholders
- Advising Company on Pricing, Marketing & Post Issue Process
- Played a key role in enabling SBI to activate its online ASBA platform for the Rights Issue
Deal Summary
| Rights Issue Size | INR 9.9 Br. | |
| Type of Rights Issue | Fast Track Rights Issue of Partly Paid-up Equity Shares | |
| Lead Managers | SBI Capital Markets, ICICI Securities, Axis Capital, BNP Paribas, CLSA | |
| Rights Issue Price | INR 110 per Rights Equity Share | |
| Payment Schedule | ₹ 55.0, i.e., 50% of the Issue Price on Application | |
| ₹ 27.5, i.e., 25% of the Issue Price in January 2021 | ||
| ₹ 27.5, i.e.25% of the Issue Price in July 2021 | ||
| Issue Opening Date | Wednesday, July 08, 2020 | |
| Issue Closing Date | Wednesday, July 22, 2020 | |
| Rights Ratio | 9:77 | |
| Record Date | Wednesday, July 01, 2020 | |
| Last Date For On Market Renunciation | Friday, July 17, 2020 |