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CCI gives approval to Flipkart InvestmentsPrivate Limited(FIPL) to acquire a minoritystake (a stake of 7.8%) in Aditya Birla Fashion and Retail Limited(ABFRL). Read the officialannouncement below: The Competition Commission of India (CCI) approves acquisition of a minority stake in Aditya Birla Fashion and Retail Limited (ABFRL) by Flipkart Investments Private Limited (FIPL). FIPL is a newly incorporated company and is a wholly owned subsidiary of Flipkart Private Limited (FPL). FPL belong
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FAQ :
The CCI has approved the acquisition of a minority stake in Aditya Birla Fashion and Retail Limited (ABFRL) by Flipkart Investments Private Limited (FIPL).
Flipkart Investments Private Limited (FIPL) is acquiring a 7.8% minority stake in ABFRL.
FIPL is a newly formed company and a wholly owned subsidiary of Flipkart Private Limited (FPL), which belongs to the Walmart Group.
ABFRL is engaged in manufacturing and retailing branded apparels, footwear, and accessories through various retail channels and online platforms across India.
The acquisition of the 7.8% minority shareholding in ABFRL is being done by FIPL through the subscription of equity shares.
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