Piramal Investment and Industries Corporation Limited has disclosed a substantial acquisition of shares in Aditya Birla Fashion and Retail Limited under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition increases Piramal's shareholding in the fashion retailer from 3.67% to 5.67%.

Acquisition Details

The transaction involved the purchase of 2.44 crore equity shares through open market operations. The acquisition was executed across multiple trading sessions between December 23-29, 2025.

Shareholding Pattern Changes

The acquisition has resulted in a significant change in Piramal's shareholding pattern in Aditya Birla Fashion and Retail Limited.

Transaction Timeline

The share acquisition was completed through multiple transactions over four trading days:

• December 23, 2025: 81,00,000 equity shares
• December 24, 2025: 61,00,000 equity shares
• December 26, 2025: 81,00,000 equity shares
• December 29, 2025: 21,00,000 equity shares

Company Structure and Compliance

Piramal Investment and Industries Corporation Limited belongs to the promoter/promoter group category of Aditya Birla Fashion and Retail Limited. The target company's shares are listed on both BSE Limited and National Stock Exchange of India Limited.

The equity share capital of Aditya Birla Fashion and Retail Limited stands at ₹1,220.29 crores, comprising 122.02 crore equity shares of ₹10.00 each, fully paid up. Following this acquisition, the total promoter/promoter group shareholding has increased from 46.61% to 46.62%.

The disclosure was filed in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring transparency in substantial shareholding changes.

Aditya Birla Fashion & Retail Limited has disclosed receiving a demand order from tax authorities regarding Goods and Services Tax (GST) compliance. The company informed stock exchanges about the regulatory action through a filing under SEBI Listing Regulations.

CGST Demand Details

The Assistant Commissioner, CGST Central Excise, Division-V, Indore, issued the demand order in Form DRC-07. The financial implications of the order are as follows:

The order does not specify any interest amount component in the total demand calculation.

Nature of Dispute

The demand order stems from proceedings related to input tax credit claims. The dispute centers on the difference between input tax credit claimed in GSTR3B returns and the credit available in GSTR2A returns. This discrepancy led to the conclusion of Show Cause Notice (SCN) proceedings, resulting in the current demand order.

Company's Response and Impact Assessment

Aditya Birla Fashion has stated that the demand order will have no impact on the company's financial, operational, or other business activities. The company maintains that the demand is not legally tenable under applicable tax laws.

The fashion retailer has announced its intention to challenge the order through proper legal channels. The company plans to file an appeal against the demand order before the Appellate Authority, indicating confidence in its tax compliance position.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI Listing Regulations. Company Secretary and Compliance Officer Rajeev Agrawal signed the regulatory filing, ensuring transparency with stakeholders about the tax matter.