Merger of TCNS Clothing into Aditya Birla Fashion and Retail approved by the NCLT

Aditya Birla Fashion and Retail Ltd (ABFRL) says the National Company Law Tribunal (NCLT) has approved the merger of the company with TCNS Clothing.

The merger has been approved under a Scheme of Amalgamation by way of Merger by Absorption. The order, pronounced on August 2, 2024, was officially sanctioned by NCLT, with ABFRL confirming receipt of the certified true copy on August 16.

ABFRL, a flagship company of the Aditya Birla Group, specializes in apparel, footwear, and accessories retailing. TCNS Clothing Co. Ltd, known for its popular women’s wear brands W and Aurelia, will now be integrated into ABFRL's portfolio.

This move follows ABFRL's acquisition of a majority stake in TCNS Clothing for Rs 1,650 crore in May 2023. By September 2023, ABFRL had secured a 51 percent stake in TCNS, officially becoming its promoter. The Competition Commission of India (CCI) approved the acquisition in June 2023, and the merger scheme received a no-objection letter from both BSE Ltd and NSE Ltd in March 2024.