Shares of Aditya Birla Fashion and Retail nosedived 10% on June 4 after a block deal worth ₹862 crore hit the counter, with Walmart owned e-commerce platform, Flipkart being the likely seller.
As of the March quarter, promoters controlled 68.85% of Aditya Birla Fashion, while Flipkart Investments held a 6% stake in the company
Shares of Aditya Birla Fashion and Retail nosedived 10% on June 4 after a block deal worth ₹862 crore hit the counter, with Walmart owned e-commerce platform, Flipkart being the likely seller.
As per data on the exchanges, as many as 10.66 crore shares of Aditya Birla Fashion, making up an 8.75% stake of the company were sold through the block deal. The shares were traded at an average price of ₹80 per share, taking on a discount to Tuesday’s closing level.
The buyers and sellers involved in the transaction were not immediately identified. However, CNBC-TV18 had reported citing sources that Flipkart was likely the seller in this transaction. The stake was held through Flipkart Investments, with Goldman Sachs advising on a ‘clean-out’ trade, the report stated.
As of the March quarter, promoters held a 68.85% stake in Aditya Birla Fashion while Flipkart Investments owned 6% equity in the company.
In the March quarter, Aditya Birla Fashion and Retail Ltd narrowed its consolidated net loss of ₹23.55 crore, a sharp improvement from the ₹266.36 crore loss posted in the same period last year. Revenue from operations rose to ₹1,719.48 crore, up from ₹1,575.12 crore year-on-year.
Total expenses for the quarter stood at ₹1,959.53 crore. Operational performance also improved as Ebitda margin expanded sharply to 12% in Q4 FY25, up from 2.2% in the corresponding quarter last year. The solid performance was driven by significant margin expansion in its Pantaloons and ethnic wear segments.