Investment13 Aug 2025, 07:14 pm
Aditya Birla Fashion and Retail Ltd to Receive INR 437 Crore Investment from ServiceNow Ventures Holdings, Inc.
AI Summary
Aditya Birla Fashion and Retail Ltd announced the outcome of a Board Meeting where it was decided that the Company and its wholly owned subsidiary, Aditya Birla Digital Fashion Ventures Limited, will execute a Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with ServiceNow Ventures Holdings, Inc. The agreement is for an investment into ABDFVL by way of 0.0001% non-cumulative, participating compulsorily convertible preference shares (CCPS) for an amount up to INR 437 Crore. The investment is subject to completion of customary closing formalities and statutory & regulatory approvals.
Key Highlights
- Aditya Birla Fashion and Retail Ltd to receive INR 437 Crore investment from ServiceNow Ventures Holdings, Inc.
- Investment to be made through 0.0001% non-cumulative, participating compulsorily convertible preference shares (CCPS).
- Investment subject to customary closing formalities and regulatory approvals.
- Aditya Birla Digital Fashion Ventures Limited, a wholly owned subsidiary of the Company, is involved in the transaction.
- SHA and SSA agreements have been executed between the parties.