Diversified financial services player Aditya Birla Capital Ltd (ABCL) on Tuesday (December 26) said it has strengthened its financial portfolio through strategic investments in its subsidiaries, Aditya Birla Finance Ltd (ABFL) and Aditya Birla Capital Digital Ltd (ABCDL).
The company has infused ₹850 crore into ABFL and ₹50 crore into ABCDL on a rights basis, according to a stock exchange filing.
"...we wish to inform you that, Aditya Birla Capital Limited (‘the Company’ or ‘ABCL’) has made investments on a rights basis, in the equity shares of Aditya Birla Finance Limited (‘ABFL’) — ₹849,99,99,456 (Rupees Eight Hundred Forty Nine Crore Ninety Nine Lakh Ninety Nine Thousand Four Hundred and Fifty Six Only) and Aditya Birla Capital Digital Limited (ABCDL) — ₹50,00,00,000 (Rupees Fifty Crore Only)," the company said.
With these investments, there is no alteration in the percentage shareholding of ABCL, maintaining its 100% ownership of both subsidiaries.
"Pursuant to the aforesaid investments, there is no change in the percentage shareholding of ABCL and both, ABCDL and ABFL continue to be wholly owned subsidiaries of the company," Aditya Birla Capital said.
ABFL, recognised as a wholly-owned subsidiary, holds significance as a related party of ABCL. The investments are made at arm's length and the equity shares were allotted to ABCL on December 26, 2023.
Shares of Aditya Birla Capital Ltd ended at ₹159.90, up by ₹0.100, or 0.063% on the BSE.
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