The company said the investment was made by subscribing to equity shares of ABCDL on a rights basis, for which the entire payment was in cash.
File Photo: IANS
Aditya Birla Capital Ltd (ABCL) officially announced to the stock exchange through a regulatory filing on Monday that it has invested Rs 40 crore in its wholly-owned subsidiary, Aditya Birla Capital Digital Ltd (ABCDL), through a rights issue.
The company said the investment was made by subscribing to equity shares of ABCDL on a rights basis, for which the entire payment was in cash.
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Aditya Birla Capital stated that the objective behind the investment is to meet the growth and funding requirements of ABCDL and that no regulatory approvals were required for the transaction.
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As per the statement, there is no change in the shareholding pattern after the investment, and ABCDL continues to remain a wholly-owned subsidiary of Aditya Birla Capital Ltd (ABCL). The company clarified that its percentage shareholding in ABCDL continues to stand at 100 per cent.
In the financial services segment, the asset management and insurance businesses saw their assets under management (AUM) climb 10 per cent year-on-year to Rs 5.5 lakh crore, reflecting steady investor inflows and growth across retail and institutional categories.
The company said its diversified portfolio across lending, insurance, and asset management segments helped maintain business momentum despite a high-interest-rate environment.
The company’s non-banking financial company (NBFC) division reported disbursements of Rs 21,990 crore, up 14 per cent from a year earlier and 39 per cent sequentially. The NBFC’s assets under management (AUM) rose 22 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 1.39 lakh crore, while the overall loan book expanded 29 per cent year-on-year to Rs 1.78 lakh crore.
Aditya Birla Capital Ltd (ABCL), a subsidiary of Grasim Industries Ltd, is a non-banking financial company. The company offers products such as housing loans, personal loans, business loans, debt funds, bonds, and fixed deposits, among others. Its housing and business loan includes an unsecured business loan, a secured business loan, a top-up home loan, a loan against property, and a home loan. The company also offers digital gold, life insurance, motor insurance, and cards. ABCL provides portfolio management services, payment services, and advisory services.
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