Kumar Mangalam Birla and family are investing Rs 500 crore in food and grocery biz
Advertisement
Advertisement
Also read: Exclusive: This Junior Birla’s packing in a Big Punch, meet Ananya Birla
"The issuance and allotment for shares up to Rs 500 crore will be in one or more tranches within a period of twelve months," the filing said. With the additional capital, the company will be able to meet its capital expenditure needs while also handling of its debt.
"The board resolution was related to an enabling provision to allow the company increase the authorised capital to meet its general corporate expenses in the ordinary course of business and also to refinance its existing debt portfolio,"
Advertisement
Also read: Now, Aditya Birla Group joins the bad world of e-commerce!
ABRL is the fourth largest supermarket chain in India, featuring in the list after Future Group, Reliance Retail and
Since its inception over 9 years ago, ABRL has seen losses of Rs 5,320 crore; however, for the year ended March 2015, the losses were reduced by 5% and brought down to Rs 571 crore.
The reason behind this is said to be their strategy of focusing on profitable markets.
Image source
Advertisement
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market