Wrogn, the clothing and footwear brand backed by cricketer Virat Kohli, received an additional infusion of Rs 75 crore from Aditya Birla Digital Fashion Ventures Ltd. or ABDFVL.
With this investment, ABDFVL's shareholding in Wrogn will increase from 17.1% to 32.84% on a fully diluted basis, according to an exchange filing on Wednesday.
The acquisition of additional stake will be completed through cash consideration within 30 to 90 days, an exchange filing said.
The fresh infusion of funds is in "continuation of its earlier investment on certain milestone based valuations", the filing said. This will help in the expansion of ABDFVL's portfolio of digital-first brands, it added.
Incorporated in 2012, Wrogn is involved in the business of manufacturing, marketing, and distribution of fashion apparel, footwear and accessories.
Wrogn's revenue fell to Rs 243 crore in fiscal 2024 from Rs 344 crore fiscal 2023. The company had reported a revenue of Rs 336 crore in fiscal 2022.
The acquisition of additional stake in Wrogn comes around a month after Aditya Birla Fashion and Retail approved to raise funds up to Rs 500 crore via non-convertible debentures.
Aditya Birla Fashion's Q1 Performance
Aditya Birla Fashion reported a 7.2% rise in its revenue to Rs 3,428 crore year-on-year for the first quarter of the fiscal 2025 as compared to Rs 3,196 crore for the same quarter of the previous fiscal.
The company's loss widened in the April-June quarter to Rs 215 crore as against Rs 162 crore loss in the same period last year.
The fashion retail firm's Ebitda rose by 13% to Rs 359 crore and the margins widened to 10.5% for the three months ended June 30 for the fiscal 2025.
Shares of Aditya Birla Fashion closed 1.51% lower at Rs 343.45 apiece on the NSE, compared to a 0.34% fall in the benchmark Nifty 50. The stock has risen by 51.2% in the last 12 months and 53.53% on a year-to-date basis.
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