Flipkart gets CCI nod to acquire 7.8% stake in Aditya Birla Fashion and Retail
In October last year, Aditya Birla Fashion s board had approved plans to raise Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group
BusinessToday.In | January 20, 2021 | Updated 22:30 IST
Flipkart to acquire 7.8% stake in Aditya Birla Fashion
The Competition Commission of India (CCI) on Wednesday approved Flipkart s minority stake buying in Aditya Birla Fashion and Retail Ltd (ABFRL). E-commerce major Flipkart had proposed to acquire 7.8 per cent stake in ABFRL, through its wholly-owned subsidiary Flipkart Investments Private Ltd (FIPL), for Rs 1,500 crore.