Flipkart’s arm exits Aditya Birla Fashion and Retail; sells 6% stake for Rs 583 crore via block deals

Flipkart Investments, an arm of e-commerce firm Flipkart, on Wednesday exited Aditya Birla Fashion and Retail by selling its entire 6 per cent stake in the company through block deals worth Rs 583 crore.

Following the stake sale, shares of Aditya Birla Fashion & Retail (ABFRL) plunged nearly 11 per cent to trade at Rs 76.94 apiece on NSE.