Shares of Aditya Birla Fashion and Retail Ltd were trading in the red and 3% lower on 10 January after the company announced that the Board of Directors of the company are set to meet on 15 January to consider raising funds. 

The capital will be raised through the issuance of equity shares, warrants, convertible securities, or other approved methods, including but not limited to Qualified Institutional Placements (QIP), rights issues, preferential allotments, or follow-on public offerings (FPO).

Earlier on 23 November, the company received a tax demand notice worth Rs 74.35 crore following disagreements with GST authority over how they claimed tax credits. 

In its quarterly earnings for July-September, the company’s net loss widened to Rs 214 crore compared to Rs 200 crore reported in the same quarter last year. 

However, the revenue from operations during the quarter stood at Rs 3,643.86 crore, marking a 13% year-on-year (YoY) increase from Rs 3,226.44 crore reported in the same quarter of the previous fiscal year. 

At 11:33 am, the shares of Aditya Birla Fashion were trading 0.56% higher at Rs 278.10 on NSE.

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