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Aditya Birla Group: Aditya Birla Fashion has bought a major stake in a combi manufacturing company. Aditya Birla Fashion has bought 51 percent in this company. This company designs and manufactures branded dresses for women. It has many brands like W, Eleven and Aurelia.
Aditya Birla Fashion said that it has tied up with TCNS Clothing for Rs 1650 crore. As per the transaction, ABFRL has made an open offer to buy 29 per cent stake at Rs 503 per share. At the same time, the company has held a total of 51 percent stake in TCNS including founder and promoters. As per the deal, TCNS public TCNS shareholders will get 11 shares for 6 shares under the merger scheme with Aditya Birla Fashion Company.
What did Aditya Birla Group say
Aditya Birla Group said that this deal will increase the economy of India. The company said that the TCNS deal was a milestone as it complements our portfolio of Indian fashion. He said that with its addition, the Aditya Birla Fashion Company will become stronger and fulfill the needs of the people.
Plan to make a very big company in three years
With this deal of Aditya Birla, the company has strengthened its portfolio. The company is expecting to generate a portfolio of Rs 5000 crore in the next three years. The sale of TCNS was Rs 896 in FY2023. In the last seven years, Aditya Birla Group has built a company with an annual sale of Rs 8,136 by handling the business of clothes.
Which brands of clothes does the company sell?
The company has divided its business into six brands. This includes Lifestyle, Pantaloons, Athleisure, Youth Fashion, Super Premium and Ethnic. Although it has mostly western clothes.
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