Aditya Birla Fashion and Retail Limited increases stake in Finesse to 58.69%

Aditya Birla Fashion and Retail Limited had earlier acquired 51% stake in Finesse, a Company engaged in business with respect to brand 'Shantanu & Nikhil', thereby making it a subsidiary of the Company.

By virtue of further investment in the Rights Issue of Finesse, the Company has acquired additional stake of 7.69%. Accordingly, the Company now holds 58.69% stake in Finesse.

Finesse International Design Private Limited was incorporated in year 2007 and runs bespoke ethnic wear business selling occasion and ceremonial contemporary apparel for men and women under the brand name "Shantanu & Nikhil" and "SN by Shantanu & Nikhil" through a cluster of 8 stores.

Shares of Aditya Birla Fashion and Retail Ltd was last trading in BSE at Rs.201.5 as compared to the previous close of Rs. 201.6. The total number of shares traded during the day was 204738 in over 4131 trades.

The stock hit an intraday high of Rs. 205 and intraday low of 193.85. The net turnover during the day was Rs. 40634444.

Source : Equity Bulls

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