Aditya Birla Fashion Retail Ltd (ABFRL) has successfully acquired a 51% stake in TCNS Clothing, establishing itself as a promoter of the women’s apparel brand. This move follows ABFRL’s announcement in May to acquire a majority stake in TCNS Clothing through a deal worth Rs 1,650 crore. The acquisition includes the founding promoter’s stake, with ABFRL obtaining 51% of the expanded share capital of TCNS. As a result, TCNS is now a subsidiary of ABFRL and qualifies as a material subsidiary under SEBI Listing Regulations. This strategic acquisition aligns with ABFRL’s goal of expanding its fashion portfolio across various consumer segments and price points, reinforcing its position as a prominent player in the Indian fashion industry.
Aditya Birla Fashion Acquires 51% Stake in TCNS Clothing, Becomes Promoter
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