Aditya Birla Capital to merge with Aditya Birla Finance

The Boards of Aditya Birla Capital Ltd (ABCL) and Aditya Birla Finance Ltd (ABFL) approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating non-banking financial company (NBFC). Aditya Birla Capital will convert from a holding company to an NBFC after the amalgamation.Post the merger, Vishakha Mulye, currently the CEO of ABCL, will take the role of MD & CEO and Rakesh Singh will serve as Executive Director and CEO (NBFC) of the amalgamated entity.Aditya Birla Capital is a listed systemically important non-deposit taking core investment company (NBFC-CIC). Aditya Birla Finance, a wholly owned subsidiary of the company, is a non-deposit taking systemically important NBFC (NBFC-ICC). As of December 31, 2023, Aditya Birla Capital managed aggregate assets under management of about INR 4.1 lakh crore with a total lending AUM of INR 1,15,139 crore and gross written premium of INR 13,500 crore in life and health Insurance businesses.