Aditya Birla Fashion and Retail rises on getting nod from CCI to acquire TCNS Clothing

Aditya Birla Fashion and Retail is currently trading at Rs. 212.35, up by 1.50 points or 0.71% from its previous closing of Rs. 210.85 on the BSE.

The scrip opened at Rs. 213.80 and has touched a high and low of Rs. 214.80 and Rs. 211.95 respectively. So far 93186 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 359.40 on 02-Nov-2022 and a 52 week low of Rs. 184.40 on 23-May-2023.

Last one week high and low of the scrip stood at Rs. 216.95 and Rs. 200.00 respectively. The current market cap of the company is Rs. 20304.24 crore.

The promoters holding in the company stood at 55.47%, while Institutions and Non-Institutions held 33.24% and 11.29% respectively.

The Competition Commission of India (CCI) has accorded its approval to Aditya Birla Fashion and Retail for acquisition of TCNS Clothing (TCNS) on June 27, 2023. The completion of acquisition of TCNS remains conditional upon fulfilment of other conditions and subject to necessary statutory, regulatory, and other approvals, as may be required under applicable laws and regulations. Earlier, the company had entered into definitive agreements to acquire TCNS Clothing.

Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company’s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.

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