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Flipkart picks up 7.8% stake in ABFRL

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4 years ago

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Flipkart picks up 7.8% stake in ABFRL

Aditya Birla Fashion and Retail Ltd (ABFRL) on Friday stated it’s miles elevating ₹1,500 crore from Flipkart Group, the proceeds of which the organisation will use to bolster its stability sheet and boost up increase. Flipkart Group will very own 7.8% fairness stake in ABFRL on a totally diluted foundation with this infusion.

ABFRL authorised the elevating of ₹1,500 crore with the aid of using manner of preferential problem to Flipkart Group. The fairness capital could be raised at ₹205 in keeping with share, the organisation stated in a submitting to the exchanges.

The promoter and promoter institution agencies of ABFRL will preserve approximately 55.13% upon finishing touch of the issuance.

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Shares of ABFRL jumped 3.five% on Friday following the news.

ABFRL has a community of 3,004 shops, with presence throughout 23,seven-hundred multi-emblem outlets. It operates garb manufacturers consisting of Van Huesen, Louis Philippe, Allen Solly, and Peter England, other than the Pantaloons retail format.

“This partnership is an emphatic endorsement of the increase capability of India. It additionally displays our sturdy conviction withinside the destiny of the garb enterprise in India, that’s poised to touch $a hundred bn withinside the subsequent five years,” stated Kumar Mangalam Birla, chairman, Aditya Birla Group.

“Over the years, we’ve formed ABFRL right into a sturdy platform to seize destiny increase possibilities in India. This partnership is a important aspect of that method,” he added.

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Fashion retail in India is about for strong long-time period increase because of sturdy basics of a big and developing center class, favorable demographics, growing disposable earning and aspiration for manufacturers, Birla stated, including fast increase of era infrastructure will in addition boost up this process.

As a part of the transaction, Walmart-sponsored Flipkart Group will beef up the variety of manufacturers supplied on its e-trade structures Flipkart and Myntra, deepening its partnership with ABFRL, and improving the variety of top class global and Indian manufacturers on offer.

ABFRL will chart a “virtual transformation method with the intention to deepen the purchaser join of its manufacturers, enlarge attain of its numerous emblem portfolio, construct sturdy omni-channel functionalities and increase its backend capabilities…” the organisation stated.

Covid has pressured numerous big offline shops to relook at their corporations that in large part depend on asset-heavy retail shops at a time whilst consumers are rapidly transferring on line. This has induced numerous conventional shops to sew partnerships with on line shops as they combat the developing prominence of on line retail.

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Earlier this year, Flipkart Group sold a minority stake in Arvind Fashions Ltd’s subsidiary Arvind Youth Brands for Rs260 crore. The flow will permit Arvind to enlarge its denim emblem, Flying Machine, on line and in India’s smaller markets.

Tap To Explore More : Financial Express

Also Read : US ELECTION WRAP, OCT 22: TRUMP, BIDEN TO SQUARE OFF IN FINAL DEBATE; OBAMA BACK ON CAMPAIGN TRAIL

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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1 day ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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