Aditya Birla Capital Invests Rs 300 Cr in Arm Via Rights Issue

Aditya Birla Capital (ABCL) on Wednesday, May 29 said it has invested 300 crore rupees in its wholly-owned subsidiary, Aditya Birla Housing Finance (ABHFL), through a rights issue.

 

Key Takeaways from Aditya Birla Capital’s Investment:

  • ABCL invested 300 crore rupees in its arm, Aditya Birla Housing Finance.
  • The investment was made via the rights issue.
  • It aims to support ABHFL's growth, and funding requirements, and improve its leverage ratio.
  • ABCL’s percentage shareholding in ABHFL remains unchanged at 100%.

 

The investment aims at supporting ABHFL's growth, and funding requirements, and improving its leverage ratio. Despite such a substantial investment, ABCL’s percentage shareholding in ABHFL remains unchanged at 100%.

 

‘Under the aforesaid investments, there is no change in the percentage shareholding of ABCL and ABHFL continues to be wholly owned subsidiaries of the company,’ the company stated.

 

‘ABHFL being a wholly owned subsidiary is a related party, and this transaction was conducted at arm's length,’ Aditya Birla Capital asserted. 

 

According to the ABCL, the equity shares were allotted to it on May 29.

 

About Aditya Birla Capital Limited:

Aditya Birla Capital Limited (ABCL) is a part of the global conglomerate Aditya Birla Group. As of December 31, 2023, the company managed assets under management of over 4.10 lakh crore rupees with a consolidated lending book of about 1.15 lakh crore rupees through its subsidiaries and joint ventures. ABCL businesses have a nationwide reach with over 1,462 branches, more than 2,00,000 agents/channel partners, and several bank partners.

 

Read More About Aditya Birla Capital Limited Share Price Here!

 

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