Aditya Birla Fashion and Retail raises stake in Finesse International Design

Aditya Birla Fashion and Retail Limited said that it has acquired an additional stake of 7.69% in Finesse International Design Private Limited, the owner of the Shantanu & Nikhil fashion brand.

The fashion retail company already had a stake of 51% in Finesse International Design.

Aditya Birla Fashion and Retail said that the additional stake will augment long term working capital and capex of Shantanu & Nikhil fashion brand owner.

The consideration for the additional stake is Rs. 865 per share and allotted as partly paid-up at Rs.432.5 per Rights Equity Share received on application.

Aditya Birla Fashion and Retail raises stake in Finesse International Design. Photo courtesy of Tumisu from Pixabay.

Established in 2007, Finesse International Design operates customized ethnic wear business. It is engaged in selling occasion and ceremonial contemporary apparel for men and women under the brand names “Shantanu & Nikhil” and “SN by Shantanu & Nikhil” through eight stores. Finesse International Design has a turnover of Rs. 30.6 crores in FY 20, while the revenue for FY21 has been Rs 19.15 crores.

Earlier this year, Aditya Birla Fashion and Retail acquired a stake of 51% in Indian designer brand Sabyasachi for about $55 million.