Aditya Birla Capital Ltd Share Price – NSE  / BSE

Finance, Small Cap

Aditya Birla Capital announced the completion of stake sale of Aditya Birla Insurance Brokers (ABIBL) to Edme Services (Edme), which is part of the Samara Capital Group and an affiliate of Samara Alternate Investment Fund.

The Board of Directors of the Company, earlier in March 2023, had approved the sale of its entire stake in ABIBL. This was followed by the execution of a Share Purchase Agreement (SPA) between the Company, ABIBL, Infocyber India (which is the other shareholder of ABIBL holding 49.998% and which was subsequently amalgamated into Birla Group Holdings) and Edme Services, subject to regulatory approval, which was received in July 2024.

The transaction is now completed with the sale of entire 25,65,103 equity shares of Rs. 10/-each, held by the Company (along with its nominees), representing 50.002% of the issued and paid-up share capital of ABIBL to Edme. The Company has received the upfront consideration on closing, amounting to Rs. 252.16 crore from Edme, in accordance with the terms of the SPA, towards the sale of the Company's 50.002% shareholding in ABIBL.

Pursuant to this, ABIBL ceases to be a subsidiary of the Company with effect from 30 August 2024 and Edme Services has become 100% shareholder of ABIBL, which will be renamed as Edme Insurance Brokers, subject to regulatory approvals

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Aditya Birla Capital has allotted 4,29,110 equity shares under ESOP on 28 August 2024. Post allotment, the paid up equity share capital has increased to 2,60,46,42,274 equity shares of face value Rs 10/- each.

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The company said that there is no change in the percentage shareholding of ABCL and ABHFL continues to be wholly owned subsidiary of the company.

The investment is aimed at supporting ABHFL’s growth, funding requirements, as well as improving its leverage ratio

Aditya Birla Capital is the holding company for the financial services businesses of the Aditya Birla Group.

The company’s consolidated net profit rose 17% to Rs 758.84 crore in Q1 FY25 as against Rs 648.76 crore reported in Q1 FY24. Total income jumped 26% year on year to Rs 8,962.50 crore in Q1 FY25.

Shares of Aditya Birla Capital shed 0.11% to Rs 222.30 on the BSE.

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Aditya Birla Capital (ABCL) has made an investment of Rs. 300 crore on rights basis, in the equity shares of Aditya Birla Housing Finance (ABHFL).Pursuant to the aforesaid investments, there is no change in the percentage shareholding of ABCL and ABHFL continues to be wholly owned subsidiary of the Company.

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