ABFRL Shares Plunge 67% Following Demerger

A fashion company, ABFRL, split into two companies.

Its stock price dropped significantly because of the split.

Investors received shares in the new company, ABLBL.

ABFRL shareholders will get one share of ABLBL for each share of ABFRL they owned.

ABFRL kept businesses like Pantaloons, while ABLBL will manage brands such as Louis Philippe and others.

The restructuring aims to establish two separate companies with their own expansion plans and capital structures.