Bombay Rayon Fashions (BRFL)

Bombay Rayon Fashions (BRFL) is one of India’s most versatile manufacturers Bombay Rayon Fashions (BRFL) is one of India’s most versatile manufacturers of superior quality fabrics and prêt-a-porter garments. With distinctions like being India’s largest shirting manufacturer, 50 million meters of superior textiles and 35 million finished garments per annum, this giant is constantly expanding to consolidate its empire.

The said acquisition of equity shares has triggered an open offer pursuant to SEBI Takeover Regulations to the existing shareholders of the Company. BRFL announced that the board of directors of the company held a meeting, to approve the acquisition of equity shares and Optionally Convertible Debentures (OCDs) along with underlying securities from the existing investors and OCD holders, constituting in the aggregate 70.56 per cent equity stake in Indore-based textile company STI India (STI), a company listed on Bombay Stock Exchange and National Stock Exchange of India for the total consideration of Rs. 700 million.

The said acquisition of equity shares has triggered an open offer pursuant to widespread SEBI Takeover Regulations to the existing shareholders of the company.