Times of India | Promoter, IFC to pump Rs 4k cr equity into Aditya Birla Cap
AI generated summary, Read the full article for complete information.
MUMBAI: The board of Aditya Birla Capital has approved a Rs 4,000 crore preferential issue of equity shares, priced at Rs 356 per share, to fund its next growth phase. Of the total, Rs 2,880 crore will come from Grasim (the promoter), Rs 200 crore from Suryaja Investment Singapore, and Rs 920 crore from the International Finance Corporation, pending shareholder and regulatory approvals. The proceeds will bolster the company's capital base, support lending, fund subsidiaries and joint ventures, and meet general corporate needs, strengthening the balance sheet and enabling expansion. Chairman Kumar Mangalam Birla highlighted financial services as a core growth engine, while MD‑CEO Vishakha Mulye said the infusion will unlock growth, deepen engagement and accelerate a digital‑first strategy.
Read more: https://timesofindia.indiatimes.com/business/india-business/promoter-ifc-to-pump-rs-4k-cr-equity-into-aditya-birla-cap/articleshow/131237862.cms
#KumarMangalam #AdityaBirlaCapital #Grasim #SuryajaInvestment #IFC #KumarMangalamBirla #VishakhaMulye