Aditya Birla Fashion and Retail Limited’s Board has approved the re-appointment of Price Waterhouse & Co Chartered Accountants LLP as Statutory Auditor for a second term of five years. The decision, taken at a meeting held on May 25, 2026, is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM). The re-appointment ensures continuity in the audit function as the firm completes its current tenure.

The Audit Committee recommended the re-appointment of the firm, which holds a valid peer review certificate and serves as auditor to several listed companies in India. The new term is scheduled to begin from the conclusion of the 19th AGM and will remain in effect until the conclusion of the 24th AGM. This move aligns with the company's governance protocols and regulatory requirements.

Price Waterhouse & Co Chartered Accountants LLP, registered with the Institute of Chartered Accountants of India (Firm Registration No: 304026E/E-300009), was established in 1991 and converted into a limited liability partnership in 2014. The firm operates from its registered office in Kolkata and maintains nine branch offices across various cities in India. It is a member firm of Price Waterhouse & Affiliates, a network registered with the Institute of Chartered Accountants of India.

The Board meeting, which commenced at 3:00 p.m. and concluded at 4:57 p.m., also reviewed other regulatory matters. The disclosure was made in compliance with Regulations 30 and 51(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI Master Circular.

Key Details of Re-appointment

Aditya Birla Fashion and Retail Limited has completed the acquisition of additional shares in its subsidiary, Indivinity Clothing Retail Private Limited (ICRPL), the parent entity of ethnic wear brand Tasva. The company acquired 3,65,19,197 equity shares through a rights issue for a total consideration aggregating to approximately ₹175 crore on May 20, 2026.

Transaction Details

Pursuant to the allotment, the holding of Aditya Birla Fashion and Retail Limited in ICRPL increased from 85.54% to 89.29%. The acquisition was funded through cash consideration via normal banking channels. The transaction does not fall within the ambit of related party transactions, although ICRPL is a related party. No governmental or regulatory approvals were required for the completion of this acquisition.

About Indivinity Clothing Retail

ICRPL operates in the apparel and accessories sector, running a bespoke ethnic wear business. It sells occasion and ceremonial contemporary apparel for men under the brand name "Tasva". The entity was incorporated on March 3, 2021.

Financial Performance

The target entity reported a turnover of ₹144.24 crore for the Financial Year 2024-25, with a total paid-up share capital of ₹104.34 crore. The turnover for the preceding three years reflects a consistent growth trajectory.

Strategic Rationale

The capital raised by ICRPL from its parent entities is intended to support its fund requirements towards growth and business operations. The investment strengthens the parent company's control over the subsidiary, which operates in the ethnic wear segment.