Walmart-owned Flipkart is planning to exit Aditya Birla Vogue & Retail Ltd. by open market transactions on Wednesday for at the very least Rs 582 crore.
Flipkart Investments Pvt. has provided to dump its total 6% stake containing over 7.3 crore shares by way of block offers. The ground value has been set at Rs 79.5 per share, in keeping with the time period sheet reported by Bloomberg Information. The bottom value represents a 7.6% low cost to the final closing.
Multinational funding financial institution Goldman Sachs is the bookrunner for the deal.
Shares of Aditya Birla Vogue and Retail ended 1.8% decrease at Rs 86.06 on the BSE, in comparison with a 0.8% decline within the benchmark Sensex.
