Vishakha Mulye was chosen as Businesswoman of the Year for her role in driving growth at the financial services arm of Aditya Birla Group as chief executive of Aditya Birla Capital (ABCL).
Mulye, who assumed charge in July 2022 after working at ICICI Bank for 30 years, successfully transitioned the non-banking finance company (NBFC) from a book dominated by large lumpy wholesale clients toward smaller, better-yielding retail clients. In the two-and-a-half years at the helm, Mulye has raised 4,000 crore of capital at the holding company level, selling part of the company’s stake in the broking business, and divesting shares in the asset management company.
Additionally, she consolidated the financial services business by merging the NBFC with itself. Under her leadership, the holding company’s assets under management rose to `. 5 lakh crore from `. 3.55 lakh crore, and the consolidated lending book doubled to `. 1.38 lakh crore from `. 67,887 crore. She won the category in a tight vote, indicating the level of the competition among the women nominees. “Vishakha is a very good manager… and is working towards transforming Aditya Birla Capital,” said one jury member.
Through a combination of capital raising and consolidation, she has strengthened the company, a fact noted by the stock market. The cmpany’s stock has more than doubled since she took charge. “I am deeply humbled to receive this prestigious award,” Mulye told ET.
“This recognition celebrates the transformative journey we’ve undertaken over the last