Aditya Birla Capital Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

Aditya Birla Capital will hold a meeting of the Board of Directors of the Company on 13 May 2024.

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Aditya Birla Group's flagship diversified financial services conglomerate, Aditya Birla Capital (ABC) has embarked on a journey of transformation, charting strong growth over the past 2 years. Building on this momentum, Aditya Birla Capital announced the launch of its omnichannel D2C platform ABCD making “Everything Finance as Simple as ABCD”. Through this platform, ABC targets to add 30 million new users over the next 3 years. The launch marks a pivotal moment in its ambitious journey to drive growth and leadership and become a full-stack financial services provider.

Backed by scalable infrastructure, user-friendly and intuitive interface, and robust functionalities, the platform offers a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel. Guided by a Maximum Viable Product approach, the ABCD D2C platform offers a comprehensive portfolio of 22 products and services, including facilities of a payment platform - such as UPI, bill payment, and online recharges, with financial services like loans, insurance, and investments along with comprehensive personal finance tracking such as 'My Track' among others. The platform also features ABCD's own stack of products such as Portfolio Consolidator, Spend Analyzer, Digital Health Assessment among others, and Payment solutions to address the diverse needs of customers through a single platform.

With features like multi-account payment, multi-mode receipt, and spend analysis tools, ABCD is set to redefine the digital financial experience. The platform has been built in a record time of 12 months, which is among the fastest in the Indian financial services sector. It is a culmination of 114,000+ development hours, 36,000+ design hours, 1,000+ APIs, and 5,000+ screens. The app is available on Android and iOS platforms. This platform is housed under Aditya Birla Capital Digital (ABCDL), a wholly owned subsidiary of Aditya Birla Capital (ABCL)

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Aditya Birla Capital has made an investment of Rs. 18 crore on rights basis, in the equity shares of Aditya Birla Capital Digital (ABCDL).Pursuant to the aforesaid investments, there is no change in the percentage shareholding of ABCL and ABCDL continues to be wholly owned subsidiary of the Company.

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The amalgamation is subject to regulatory and other approvals as may be required.

Aditya Birla Finance, a wholly owned subsidiary of the company, is a non-deposit taking systemically important NBFC (NBFC-ICC).

The proposed amalgamation will result in reduction of legal entities and simplification of the group structure of Aditya Birla Capital.

The proposed amalgamation will also lead to compliance with the Scale based Regulations of RBI which require mandatory listing of Aditya Birla Finance by 30 September 2025.

Post completion of the amalgamation, Aditya Birla Capital will get converted from a holding company to an operating NBFC. This will create a unified large entity with a greater financial strength and flexibility enabling direct access to capital. This will also help the company to maximise its share of opportunities by efficient utilisation and allocation of capital.

Upon the scheme becoming effective, Vishakha Mulye shall assume the role as MD & CEO and Rakesh Singh will assume the role as executive director and CEO (NBFC) of the amalgamated company, subject to regulatory/statutory approvals as may be required for these proposed appointments.

Kumar Mangalam Birla, chairman, Aditya Birla Group said, “Our financial services business has scaled smartly to emerge as a core growth engine for the Aditya Birla Group.

The proposed amalgamation will create a strong capital base for Aditya Birla Capital to grow its business and participate in India’s growth story, successfully fulfilling its commitment to empower the financial aspirations of millions of Indians.”

Aditya Birla Capital is a listed systemically important non-deposit taking core investment company (NBFC-CIC). As of 31 December 2023, Aditya Birla Capital Limited manages aggregate assets under management of about Rs 4.1 lakh crore with a total lending AUM of Rs 1,15,139 crore and gross written premium of Rs 13,500 crore in Life and Health Insurance businesses. The company has a pan India presence with 1,462 branches across all businesses as of 31 December 2023.

The company had reported consolidated revenue of Rs 26,791 crore and a profit after tax of Rs 2,090 crore for 9M FY 2024.

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