FirstCry parent BrainBees filed papaers with India's Securities and Exchange Board of India last December for an IPO that would have been one of the country's biggest this year.
Earlier an injunction order was passed against hiving of the retail business on June 27, 2024, by a city court here over an application filed by its executive director Samir Kumaar Modi.
The company, which operates hospitality properties under the Royal Orchid and Regenta brands, is also looking to expand its wedding destination portfolio by adding four to five locations every year.
ABFRL said the board approved the demerger of Madura Fashion & Lifestyle business into a newly incorporated company - Aditya Birla Lifestyle Brands (ABLBL)