Under the proposal, a vertical demerger of Madura Fashion and Lifestyle business will be executed and newly incorporated company named as Aditya Birla Lifestyle Brands Ltd will be listed separately on completion of the demerger from ABFRL. ABFRL plans to raise Rs 2,500 crore equity capital within 12 months of demerger with promoter participation.
The compant said as per the share entitlement ratio, once the demerger is completed, the shareholders of ABFRL will get one share of ABLBL for every one share in ABFRL, in addition to their existing shareholding in ABFRL.
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