Aditya Birla Capital Ltd. has invested Rs 300 crore in the shares of Aditya Birla Housing Finance Ltd. on a rights basis on Tuesday.
According to the exchange filing, the investment is aimed at supporting Aditya Birla Housing Finance's growth and funding requirements, as well as improving its leverage ratio.
There will be no change in the percentage shareholding and Aditya Birla Housing Finance remains a wholly-owned subsidiary of Aditya Birla Capital, with the latter's stake continuing to remain at 100%. The transaction was conducted through a cash consideration.
Aditya Birla Capital is the holding company for the financial services businesses of the Aditya Birla Group.
Shares of the company closed 0.43% higher at Rs 222.77 per share, compared to a 0.03% advance in the NSE Nifty 50. The stock has risen 23.11% year-to-date and 33.88% over the past 12 months.
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