Aditya Birla Fashion Shares: There was selling pressure in the shares of Aditya Birla Fashion and Retail of Aditya Birla Group today. This selling pressure was visible at a time when the company has launched Qualified Institutional Placement (QIP) to raise funds. The company informed late on Thursday evening that the board has approved the launch of institutional share sale. Today, the next day after this revelation, there is a lot of volatility in the shares. Currently on BSE it is at Rs 274.75 with a decline of 0.63 percent. In intra-day it had slipped by 1.27 percent to Rs 273.00 but before that it had jumped by 1.03 percent to reach Rs 279.35.
What is the floor price of Aditya Birla Fashion’s QIP?
Aditya Birla Fashion has fixed the floor price for QIP at Rs 271.28, which is 1.89 per cent downside from Thursday’s closing price (Rs 276.50). The company plans to raise Rs 5 thousand crore through QIP and preferential issue. The board has approved it to raise Rs 2500 crore through QIP. Apart from this, on preferential basis the company will issue shares worth Rs 1298 crore to promoter Pilani Investment and Rs 1081 crore to Fidelity Group in non-promoter category.
How were the shares in one year?
Shares of Aditya Birla Fashion have made huge profits for the investors. Last year on March 13, 2024, it was at Rs 198.45, which is a one-year low for its shares. From this low level, it jumped by about 84 percent in 6 months to reach a price of Rs 364.50 on September 27, 2024, which is a one-year record high for its shares. However, the rise in shares stopped here and at present it is about 25 percent downside from this high.