ABFRL's shares plummet 67% after splitting into two entities, one focusing on luxury brands.

Aditya Birla Fashion and Retail's (ABFRL) shares fell 67% on the NSE due to a demerger into two separate listed entities. ABFRL will focus on designer and luxury brands, while the new entity, Aditya Birla Lifestyle Brands Ltd. (ABLBL), will house well-known brands like Louis Philippe, Van Heusen, Allen Solly, and Reebok. ABFRL shareholders will receive one ABLBL share for each ABFRL share held. The demerger aims to enhance growth strategies for both entities.