Aditya Birla Capital gets Rs 1,000 cr foreign investment from Jomei

Aditya Birla Capital on Monday said it has received a foreign investment of Rs 1,000 crore from Jomei Investments Ltd in lieu of preferential allotment of shares.

The Department of Economic Affairs (DEA), vide its letter dated February 21, has communicated its approval to the company for foreign investment by Jomei for the purpose of subscription to the preferential issue of the company, Aditya Birla Capital said in a regulatory filing on Monday.

It said the company is proposed to allot 10 crore equity shares at a price of Rs 100 apiece for an aggregate consideration of Rs 1,000 crore to Jomei.

"With such approval being received, we confirm that all regulatory approvals in relation to preferential allotment of equity shares to Jomei have now been received and, thus, allotment of equity shares to Jomei is proposed to be completed within 15 days from the date of receipt of DEA approval," it said.

Shares of the company closed at Rs 87.15 apiece on the BSE, down 3.27 per cent from the previous close.