Aditya Birla Fashion and Retail Limited (BSE:535755) announced that it has entered into a commercial agreement for a private placement of 73,170,732 shares at a price of INR 205 per share for gross proceeds of INR 15,000,000,060 on October 23, 2020. The shares will be issued on preferential issue allotment basis. The shares have a face value of INR 10 per share. The transaction will include participation from new investor Flipkart Investments Private Limited and will acquire 7.8% stake in the company. The investor will have the right to appoint an observer on the board of the company. The transaction has been approved by the company's board of directors and is subject to approval from company's shareholders, regulatory approval and other customary approvals.