Aditya Birla Fashion and Retail Limited has increased its shareholding in its subsidiary, Indivinity Clothing Retail Private Limited (ICRPL), following a rights issue. By investing ₹175 crore, the company has raised its stake from 85.54% to 89.29%. This capital infusion is intended to support the growth and business operations of ICRPL, which manages the bespoke ethnic wear brand Tasva.
Strategic Capital Infusion
On May 20, 2026, Aditya Birla Fashion and Retail Limited (ABFRL) completed the acquisition of 3,65,19,197 equity shares in its subsidiary, Indivinity Clothing Retail Private Limited (ICRPL). The transaction, executed through a rights issue, involved a total cash consideration of ₹175 crore, marking a significant step in the parent company’s ongoing commitment to the brand’s expansion.
Focus on the Tasva Brand
ICRPL operates within the apparel and accessories sector, primarily focusing on the Tasva brand, which offers contemporary and occasion-based ethnic wear for men. This fresh capital is earmarked to bolster the brand’s operational scale and fund its future business requirements as it continues to grow its presence in the market.
Financial Performance
The company has shown consistent growth over the past three financial years. As of the fiscal year ending March 31, 2025, ICRPL reported a turnover of ₹144.24 crore. This reflects a positive trend compared to the ₹100.06 crore reported for the year ended March 31, 2024, and ₹49.29 crore for the year ended March 31, 2023.
Source: BSE
