Business Standard

Aditya Birla group to dilute stake in financial services arm via QIP

Roadshows to raise up to Rs 3,000 cr by selling 5-7% stake in AB Capital

Illustration: Ajay Mohanty

Illustration: Ajay Mohanty

Dev Chatterjee Mumbai

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Several West Asia-based sovereign funds, including the Abu Dhabi Investment Authority (ADIA), have shown an interest to invest in the share sale of Aditya Birla Capital (AB Capital).

The Aditya Birla group has commenced roadshows among potential investors to raise up to Rs 3,000 crore by selling its stake in its financial services company, bankers said. The group is estimated to dilute 5-7 per cent in the company, including by means of the greenshoe option, through the qualified institutional placement (QIP) route.
Grasim, the holding company of the group, holds 54.2 per cent in the firm while the promoters own 16.8

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First Published: May 29 2023 | 5:09 PM IST

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