Aditya Birla Group to Invest Rs 1,250 Crore in Aditya Birla Capital Ltd. to Support Growth
The board of Aditya Birla Capital Ltd (ABCL) has approved a preferential issuance of Rs 1,250 crore to its promoter and promoter group entity. The funds will be used to enhance the capital base, improve solvency margin, and meet growth and funding requirements. Grasim Industries and Surya Kiran Investments, both group entities, will also invest Rs 1,000 crore and Rs 250 crore respectively. The preferential issuance is subject to shareholders' approval, which will be sought at an extraordinary general meeting scheduled for June 24.
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Date: June 2nd, 2023