Aditya Birla Capital Invests Rs 850 Crore In NBFC Arm
The parent firm's investment through rights issue has been made to help Aditya Birla Finance meet its growth and funding requirements and improve its leverage ratio.
Aditya Birla Capital Ltd. has invested Rs 850 crore in its non-banking financial services unit, Aditya Birla Finance Ltd., via share subscription.
The parent firm's investment through rights issues has been made to help Aditya Birla Finance meet its growth and funding requirements and improve its leverage ratio, according to an exchange filing on Tuesday.
The company has also invested Rs 50 crore in its digital lending platform, Aditya Birla Capital Digital Ltd.
Both companies are wholly owned subsidiaries of Aditya Birla Capital.
Aditya Birla Finance reported 44% year-on-year growth in its asset under management in the second quarter to Rs 93,522 crore, with 5.9 million active customers.
Shares of Aditya Birla Capital closed 0.06% higher at Rs 159.9 apiece on Tuesday ahead of the announcement, as compared with a 0.32% advance in the benchmark BSE Sensex.
