Aditya Birla Fashion and Retail Ltd has increased its stake in Goodview Fashion Private Limited by acquiring an additional 17.5% for Rs 127.42 crore. This acquisition boosts Aditya Birla’s ownership from 33.5% to 51%, turning Goodview Fashion, known for the ethnic fashion brand Tarun Tahiliani, into a subsidiary as of July 11, 2024.
The acquisition involved the purchase of 1,870 equity shares from existing shareholders, with no regulatory approvals required. Goodview Fashion reported revenues of Rs 148 crore for FY24, highlighting its strong market presence and potential for future growth.
Despite the strategic acquisition, Aditya Birla Fashion’s shares dipped 0.22% on the BSE, trading at Rs 322.80 per share during late morning trade. Such minor fluctuations are not uncommon following significant corporate announcements.
Additionally, the Aditya Birla Group, the parent company of Aditya Birla Fashion, recently announced a $50 million investment in a new manufacturing and R&D center in Texas, focused on producing epoxy resins.
