Flipkart exits Aditya Birla Fashion and Retail in Rs 582 crore bulk deal; ABFRL stock tumbles 11%

Flipkart Investments Private Limited divested its 6% stake in Aditya Birla Fashion & Retail. The sale occurred in a bulk deal for Rs 582 crore. Following this, ABFRL's stock experienced a 9% drop. Goldman Sachs managed the transaction. Aditya Birla Fashion & Retail had recently demerged its Madura Fashion & Lifestyle business.