Aditya Birla Capital to raise Rs 3,000 crore in one or more tranches via equity, debt funding

Financial services company Aditya Birla Capital on Thursday said it will raise Rs 3,000 crore in funding through equity and debt routes in one or more tranches. Shares of the firm tumbled 4.25 percent to Rs 163.50 apiece in Thursday's trade. The stock opened at Rs 172.85 per share today and went on to hit an intra-day high and intra-day low of Rs 173.30 and Rs 163.00, respectively.

"The Board of Directors of Aditya Birla Capital Limited at its meeting held today, i.e. 11 May 2023, inter alia, considered and approved the raising of funds, inter alia, by way of issuance of equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds fully/partly convertible debentures, non-convertible debentures, and/or any other financial instruments convertible into equity shares (including warrants, or otherwise, in registered or bearer form) and/ or any security convertible into equity shares or combination of any of the aforementioned securities in one or more tranches through one or more public and/ or private offerings including by way of a qualified institutions placement or any combination thereof or any other method as may be permitted under applicable laws to eligible investors in one or more tranches," the company said in a filing.