Aditya Birla Fashion and Retail Ltd. announced on Thursday that it has raised its stake in Tarun Tahiliani brand's parent company Goodview Fashion Pvt. from 33.5% currently to 51% for Rs 127 crore.
The company achieved this through a secondary acquisition of an additional 17.5% equity stake from Goodview Fashion's existing shareholders, according to an exchange filing.
Following the transaction, Goodview Fashion, which manufactures and sells ethnic couture under the Tarun Tahiliani brand, has become a subsidiary of the company effective from July 11, 2024.
Shares of Aditya Birla Fashion and Retail closed 0.31% lower at Rs 323.50 per share, compared to a 0.03% decline in the BSE.
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