India's Aditya Birla Fashion and Retail slides on reports Flipkart offloading stake

Aditya Birla Fashion and Retail

04/06/2025 05:40

** Aditya Birla Fashion and Retail ADIA.NS slides 10% to 77.4 rupees, lowest since April 1, 2024

** Stock on track for steepest intraday pct drop since March 23, 2020

** Walmart-backed Flipkart offloading its entire 6% stake in ADIA via block deal that could be worth ~6 bln rupees ($70.2 mln), per media reports

** Wednesday's block deal at 7% discount on average to Tuesday's close of 86 rupees, with Flipkart the likely seller, CNBC TV18 reports

** ADIA loses 23.5% YTD

($1 = 85.4400 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))