Aditya Birla Fashion approves Madura Fashion, Lifestyle demerger

The board of directors of Aditya Birla Fashion and Retail Ltd. approved the demerger of its Madura Fashion and Lifestyle business into a separate entity. The newly formed entity will be named Aditya Birla Lifestyle Brands Ltd. and will be listed after the demerger. The portfolio of ABFRL will consist of value retail, ethnic portfolio luxury and digital brand.