Flipkart's arm exits ABFRL; sells 6 pc stake for Rs 583 crore via block deals
Flipkart Investments divested its entire 6% stake in Aditya Birla Fashion and Retail (ABFRL) through block deals, amounting to Rs 583 crore. Following the sale, ABFRL's shares experienced a significant drop of nearly 11%. The transaction involved selling 7.31 crore equity shares at a discounted floor price of Rs 79.50 per share.
Flipkart Investments divested its entire 6% stake in Aditya Birla Fashion and Retail (ABFRL) through block deals, amounting to Rs 583 crore. Following the sale, ABFRL's shares experienced a significant drop of nearly 11%. The transaction involved selling 7.31 crore equity shares at a discounted floor price of Rs 79.50 per share.
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