Public Market

Secondary Issues

ADIA, BlackRock, MIT invest Rs.1,750-Cr in Aditya Birla Capital QIP

Business Standard  

Abu Dhabi Investment Authority (ADIA), Massachusetts Institute of Technology (MIT) and BlackRock have invested INR 1,750 crore in the equity of Aditya Birla Capital Ltd (ABCL) through Qualified Institutional Placement (QIP). ABCL has also mobilised INR 1,250 crore through a preferential issuance of equity shares to its promoter and promoter group entity. The QIBs were allotted 100 million equity shares of face value INR 10 each at INR 175 per equity share (including a premium of INR 165). The proceeds from the fundraise will be used to augment the capital base and improve the solvency margin and leverage ratio, meeting the growth and funding requirements of various businesses of the company. ABCL reported a consolidated revenue of INR 29,999 crore and a profit after tax of INR 2,057 crore (excluding fair value gains) for FY 2023.