Aditya Birla Fashion and Retail Limited has informed the Exchange about the Receipt of Certified copy of Order passed by Hon ble National Company Law Tribunal, Mumbai Bench ( NCLT ) approving the Scheme of Arrangement among Aditya Birla Fashion and Retail Limited ( Demerged Company ), Aditya Birla Lifestyle Brands Limited ( Resulting Company ) and their respective shareholders and creditors.
ABFRL · price
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On the reaction day the stock moved 0.3 pts more than Nifty Smallcap 250 and 2.0 pts more than its Speciality Retail peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Scheme of Arrangement between Aditya Birla Fashion and Retail Limited (ABFRL) and Aditya Birla Lifestyle Brands Limited. Under the scheme, ABFRL will act as the Demerged Company and Aditya Birla Lifestyle Brands Limited will act as the Resulting Company. The demerger will separate ABFRL's lifestyle brands business into a new listed entity. Shareholders and creditors of ABFRL will become shareholders of the resulting company in proportion to their existing holdings. This is a significant step towards the previously announced restructuring plan to unlock value.
Shareholders of ABFRL are likely to receive shares of the newly demerged entity (Aditya Birla Lifestyle Brands Limited), which may trade separately on the exchanges. The approval clears a major regulatory hurdle, but the record date and share allotment timeline are yet to be announced.