The Board of Directors of Aditya Birla Fashion and Retail Ltd, at its meeting held today i.e. on Friday, June 10, 2019, have approved entering into a Share Purchase Agreement with the existing Shareholders of "Jaypore E-Commerce Private Limited", a B2B entity which sells ethnic fashion merchandise under its own brand "Jaypore" and of other third-party brands.
The Board also approved entering into a Share Purchase Agreement with the existing Shareholders of "TG Apparel & Decor Private Limited", a B2C entity which retails ethnic fashion, both online and offline.
The above is subject to receipt of necessary statutory approvals, if any and customary closing conditions, which are expected to get completed in 30-45 days.
Shares of Aditya Birla Fashion and Retail Ltd was last trading in BSE at Rs.218.55 as compared to the previous close of Rs. 218.25. The total number of shares traded during the day was 34512 in over 918 trades.
The stock hit an intraday high of Rs. 224.2 and intraday low of 216.05. The net turnover during the day was Rs. 7608125.