Aditya Birla Lifestyle Brands lists after demerger
Aditya Birla Lifestyle Brands Limited (ABLBL) just made its stock market debut, listing at ₹172.84 on NSE and ₹167.75 on BSE.
By afternoon, though, shares slipped to ₹160—a drop from both the opening and issue price of approximately ₹170.85 per share.
This launch wraps up a year-long process where ABLBL separated from Aditya Birla Group to become its own company.
Aditya Birla Group's fashion brands on the list
ABLBL owns popular labels like Louis Philippe, Van Heusen, Allen Solly, Peter England, American Eagle, and Reebok.
Chairman Kumar Mangalam Birla says the aim is to build India's first set of billion-dollar fashion brands.
Managing Director Ashish Dikshit believes there's room to double the company's size and profits in five years—so they're definitely thinking big post-demerger.