Aditya Birla Fashion and Retail Limited has announced a board meeting to discuss a Qualified Institutional Placement (QIP) of equity shares, targeting to raise up to ₹1,000 crore.

The QIP will involve issuing equity shares with a face value of ₹10 each at a minimum price of ₹100 per share, with a record date to be determined later.

The funds raised through this QIP are intended for general corporate purposes, including working capital requirements and potential acquisitions.

The QIP Committee of the Board has also reviewed the interim financial results for the quarter and half-year.