Aditya Birla Capital infuses ₹750 crore into its financial services arm Aditya Birla Finance Limited
Aditya Birla Group, on Tuesday said that it has infused ₹750 crore that, Aditya Birla Capital Limited (“the Company" or “ABCL") has on 26 September 2023, made an investment of Rs. 749,99,98,868 (Rupees Seven Hundred Forty Nine Crore Ninety Nine Lakh Ninety Eight Thousand Eight Hundred and Sixty Eight Only) on rights basis, in the equity shares of Aditya Birla Finance Limited (“ABFL"), which is a a wholly owned material subsidiary of the Company.
The company in a regulatory filing said that ABCL is making the investment in ABFL to meet its growth and funding requirements and improve its leverage ratio. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! It further said that the subscription of equity shares of ABFL, on rights basis for aggregate cash consideration of Rs.
749,99,98,868 (Rupees Seven Hundred Forty Nine Crore Ninety Nine Lakh Ninety Eight Thousand Eight Hundred and Sixty Eight Only) and the percentage shareholding of ABCL in ABFL continues to remain at 100%. Meanwhile, Aditya Birla Finance on Monday said it will raise up to ₹2,000 crore through its maiden public issue of non-convertible debentures (NCDs).
Its subsidiary Aditya Birla Capital has proposed to issue NCDs for an amount up to ₹1,000 crore with an option to retain oversubscription up to ₹1,000 crore. The issue will open on September 27 and close on October 12, with an option of early closure of the issue on such date as may be decided by the Board of Directors, the company said in a statement.
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