Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday (August 13) said the company and its wholly-owned subsidiary, Aditya Birla Digital Fashion Ventures Limited (ABDFVL), have signed a shareholders’ agreement (SHA) and a share subscription agreement (SSA) with ServiceNow Ventures Holdings, Inc for an investment of up to ₹437 crore in ABDFVL.
The investment will be made through the issuance of 0.0001% non-cumulative, participating compulsorily convertible preference shares (CCPS) by ABDFVL on a preferential allotment basis through private placement. The issue price will be determined as per the mutually agreed valuation under the terms of the SHA.
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ServiceNow Ventures Holdings, Inc will be the sole investor in this issuance. The CCPS will be converted into equity shares of ABDFVL in accordance with the terms of the SHA. The proposed investment is subject to customary closing formalities and statutory and regulatory approvals, as applicable.
Shares of Aditya Birla Fashion and Retail Ltd ended at ₹74.72, up by ₹0.71 or 0.96%, on the BSE today (August 13).
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First Published: Aug 13, 2025 8:01 PM IS
