The report notes that Flipkart Investments has sold its entire six per cent stake in ABFRL through block deals, amounting to Rs 583 crore
Marking its exit from Aditya Birla Fashion and Retail, Flipkart Investments, an arm of ecommerce firm Flipkart, has sold its entire six per cent stake in ABFRL through block deals, amounting to Rs 583 crore, as per a report by news agency PTI.
Upto 7.31 crore equity shares of ABFRL were sold at a floor price of Rs 79.5 per share, as per the block deal. The report noted that this was a discount of around 7.6 per cent to ABFRL’s closing price of Rs 86 on the National Stock Exchange (NSE) on Tuesday.
The report highlighted that with Goldman Sachs being the sole bookrunner for the deal, the transaction involves a sale of around 7.31 crore shares, totalling to around six per cent stake in the company. Executive through one or more block deals on the NSE and BSE, the total deal size is estimated at Rs 583 crore, as per the report.
With no fresh equity being offered by the company, the offer is completely secondary in nature, according to the report, which added that in 2020, ABFRL announced that it was raising Rs 1,500 crore from the Flipkart Group. The reports added that Flipkart’s exit marks a complete disinvestment of its holdings in the Mumbai-based ABFRL.
On the financial front, ABFRL has narrowed its net loss from continuing and discontinued operations in the fourth quarter of the financial year 2025 (Q4FY25). The net loss dipped to Rs 23.55 crore in Q4FY25 from Rs 266.36 crore in Q4FY24. The financial results of the company revealed that the consolidated revenue from operations from continuing operations surged to Rs 1,719.48 crore in the recently concluded quarter from Rs 1,575.12 crore in Q4FY24.
