Madura Fashion business, consisting of brands such as Louis Phillippe, Van Heusen, Allen Solly & Peter England, Reebok, and others will be demerged into a separate listed entity.
Shares of Aditya Birla Fashion and Retail, a subsidiary of Aditya Birla Group, surged as much as 1.8% to hit an intraday high of ₹214.80 apiece on the BSE in early trade.
The lock-in period for Nykaa share expires today, which means promoters and investors can liquidate their pre-IPO stocks owned by them.
