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    Flipkart to buy 7.8% stake in Aditya Birla Fashion and Retail for Rs 1,500 crore

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    Aditya Birla Fashion and Retail (ABFRL) would raise Rs 1,500 crore from Flipkart, the company informed stock exchanges on Friday. The money would be raised through preferential allotment of shares to Flipkart, who will own 7.8 per cent stake in ABFRL. The issue price of the preferential allotment is set at Rs 205, which is 33.63 per cent higher than Thursday's closing price of Rs 153.40.

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