Aditya Birla capital to raise rs 2,100 crore.


Aditya BirIa Capital Limited (ABCL) announced on Thursday that it has received approval from its Board of Directors to raise primary equity capital of Rs 2,100 crore through a preferential allotment to certain marquee investors and the promoter as well as promoter group entities. This approval is subject to the requisite statutory and regulatory approvals, including that of the shareholders, ABCL said in a regulatory filing. The board also decided to convene an extraordinary general meeting of shareholders on October 5.

ABCL is the holding company of the financial services businesses of the $48.3 billion Aditya Birla Group. The equity capital will be raised at Rs 100 per share, which is at a 10.62 percent premium to the ABCL closing price of Rs 90.40 as of September 4, the company said in a statement, adding that it has ABCL has signed definitive share subscription agreements with Jomei Investments Limited, an affiliate of Advent International, and PremjiInvest's affiliate PI Opportunities Fund.

While Jomei Investments will plough in Rs 1,000 crore for 10 crore fully paid-up equity shares, PremjiInvest, the family investment arm of Wipro, will pump in Rs 100...

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