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
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Italian PM Meloni invites PM Modi to G7 Summit Outreach Session in June
- Markets rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
- Sustainable Waste Disposal
- RBI announces auction sale of Govt. securities of ₹32,000 crore
- Catan adds climate change to the latest edition of the world-famous board game
- 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