New Delhi, June 4 (PTI) Flipkart on Wednesday took out Aditya Birla by selling 6 percent of his entire 6 percent stake in a fashion retailer in a fashion retailer through an open market transaction.
Bangalore -based Flipkart sold 7,31,70,731 shares through its arm Flipkart Investments Private Limited, with a 6 percent stake in Aditya Birla Fashion and Retail (ABFRL), according to the bulk deal data available on NSE.
The shares were settled at an average price of Rs 80.32, the transaction price was taken to Rs 587.71 crore.
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The details of buyers of Aditya Birla fashion and retail shares could not be identified on the National Stock Exchange (NSE).
The US-based retail legend is the original unit of Walmart Flipkart.
Aditya Birla Fashion and Retail shares were reduced by 10.37 percent in Rs 77.08 on NSE.
In October 2020, ABFRL announced a funding of Rs 1,500 crore from the Flipkart Group.
Last month, ABFRL stated that its consolidated net deficit was compressed to Rs 23.55 crore in the fourth quarter ended March 2025, which was a net loss of Rs 266.36 crore a year ago.
Revenue from operation during the quarter to Rs 1,719.48 crore during the review of Rs 1,575.12 crore in the year-old period.
The exit of Flipkart consists of a complete division of its holdings in ABFRL, with brands such as Pantalons, Van Haseen and Louis Philip. PTI HG Anu DRR
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