Page 6 - Aditya Birla Group

Aditya Birla Group to enter jewellery retail business; to invest Rs 5k cr

Leading business conglomerate Aditya Birla Group on Tuesday said it is foraying into the branded jewellery retail business with an investment of Rs 5,000 crore. The new venture, Novel Jewels, will build large-format exclusive jewellery retail stores across India, with in-house jewellery brands, a statement from Aditya Birla Group said. This foray is a strategic portfolio choice that allows to tap into new growth engines and expand presence in the vibrant Indian consumer landscape, Aditya Birla Group Chairman Kumar Mangalam Birla said. "With rising disposable income, discerning and aspirational consumers are leaning more towards design-led, bespoke, and high-quality jewellery. This venture will capitalise on Aditya Birla Group's deep expertise in lifestyle retail and nuanced understanding of consumer preferences," he added. The company aims to tap the growing demand for design-led, bespoke, and high-quality jewellery in the country. With this, Aditya Birla Group will compete with t

Aditya Birla Group to invest Rs 1,250 crore into its financial services arm

Aditya Birla Group is set to pump in Rs 1,250 crore into its financial services arm Aditya Birla Capital Ltd. The board of Aditya Birla Capital Ltd (ABCL), which is into lending, asset management and insurance, on Thursday approved a preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, according to a statement on Thursday. Recently, ABCL announced its intent to raise Rs 3,000 crore, and its chief executive and managing director Vishakha Mulye had told reporters that any of the businesses needing capital will get capital to fuel its growth. ABCL said the preferential issuance will be undertaken at a price of Rs. 165.1 per equity share and is subject to shareholders' approval. Shares of the company closed 0.91 per cent up at Rs 171.70 a piece on the BSE on Thursday. Group flagship Grasim Industries also will invest Rs 1,000 crore while Surya Kiran Investments, another group entity, will invest Rs 250 crore in the preferential issue, the statement said.

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

ABFRL to acquire controlling stake in TCNS Clothing for Rs 1,650 crore

Kumar Mangalam Birla, chairman, Aditya Birla Group, said in the release, "This deal is yet another marker of the Aditya Birla Group's faith in the dynamism and buoyancy of the Indian consumer economy"

UltraTech Q4 net profit falls 36% to Rs 1,670 cr, revenue up 17.7%

Its revenue for operation in FY23 increased 20.23 per cent to Rs 63,239.98 crore against Rs 52,598.83 crore a year ago

Kumar Mangalam Birla returns to Vodafone Idea board as additional director

Aditya Birla Group Chairman Kumar Mangalam Birla has returned to the board of debt-ridden Vodafone Idea as an additional director in a non-executive and non-independent role, the telecom firm said on Thursday. Birla stepped down from the board of Vodafone Idea Ltd (VIL) in August 2021 for his role as non-executive chairman of the company. "...the Board of Directors of the Company has, at its meeting held today, appointed Mr Kumar Mangalam Birla, as an Additional Director (Non-Executive and Non-Independent) with effect from 20 April 2023," VIL said in a regulatory filing. Aditya Birla Group, one of the promoters, holds around 18 per cent stake in VIL and Vodafone Group around 32 per cent. Birla in the past had offered to give up his stake in VIL. VIL, at present, is reeling under a debt of Rs 2.22 lakh crore, comprising deferred spectrum payment obligations of Rs 1.39 lakh crore and adjusted gross revenue liability of Rs 69,910 crore that are due to the government. The debt from b

Kumar Mangalam Birla received AIMA's 'Business Leader of the Decade' award

Birla said, last ten years had been a period of epochal change for India and the leaders of industry have had a chance to participate in that change and shape the future of the country

Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

Aditya Birla Group Chairman KM Birla receives Padma Bhushan award

Aditya Birla Group Chairman Kumar Mangalam Birla, the recipient of Padma Bhushan this year, is the fourth in the extended Birla family to be conferred the nation's highest civilian honours. Birla (55), was conferred the Padma Bhushan, the country's third highest civilian award by President Droupadi Murmu on Wednesday. His great grandfather GD Birla was a recipient of Padma Vibhushan in 1957 and his mother Rajashree Birla was awarded Padma Bhushan in 2011. GP Birla, cousin of Kumar Mangalam Birla's grandfather BK Birla, was awarded Padma Bhushan in 2006. Kumar Mangalam Birla (KM Birla) has been at the helm for 28 years of the diversified Aditya Birla group with its presence ranging from metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. He transformed the group into an Indian multinational with operations in 36 countries across six continents and increased the group's turnover by over 30 times to USD

Aditya Birla Group to set up law school at BITS Pilani Mumbai campus

The Aditya Birla Group has announced a Rs 1,500-crore investment to make a foray into the law school segment, which will come at its premier engineering institute BITS Pilani's Mumbai campus from the next academic session. The proposed law school will move within a 63-acre university campus in the Mumbai metropolitan area, for which Rs 1,500 crore investment is being made, Birla group chairman and the chancellor of BITS Pilani Kumar Mangalam Birla said in a statement on Friday. BITS Pilani is among the first private sector universities to be awarded the status of 'institute of eminence' by the Centre. The move marks its foray into legal education with the BITS Law School in Greater Mumbai. The law school will cover all aspects of legal education, including a flexible and interdisciplinary curriculum, emphasis on creative learning, focus on legal writing and scholarly research, with strong digital underpinning across the programmes, and enabling access through generous scholarships,

Aditya Birla Group looking to raise funds for Vi at promoter level: Report

The group is reportedly looking to raise long-term debt for ailing telco Vodafone Idea (Vi) and use preferential share allotment as the route

Grasim Q3 PAT up 44% to Rs 2,516 cr on strong show by Ultretech, AB Capital

Revenue rises 17% to Rs 28,638 cr; cheaper imports from Indonesia create pressure on domestic prices

Vodafone Idea in talks with banks to refinance Rs 3-4k crore loans

This is expected to free up some cash for Vodafone Idea which needs to pay urgently to Indus Towers, Nokia and Ericsson

Reliance, Aditya Birla Group, Tata to invest more than Rs 1 trillion in UP

India's leading conglomerates Reliance, Aditya Birla Group and Tata on Friday committed to invest more than Rs 1 lakh crore in Uttar Pradesh to expand their businesses in the near future. Reliance Industries will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity over the next four years, its Chairman Mukesh Ambani announced at the UP Global Investors Summit here. Similarly, Aditya Birla Group Chairman Kumar Mangalam Birla said his group has committed Rs 25,000 crore investment across its various businesses such as cement, metals, chemicals, financial services and renewable energy in the state. Tata Sons Chairman N Chandrasekaran said group firm Air India SATS will set up an integrated multi-modal cargo hub at the upcoming Jewar airport in partnership with Zurich Airport. In his address at the event, Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting .

Hindalco Q3 results: Net profit falls 63% on input cost pressure

Novelis' total shipments of flat-rolled products were at 908 Kt (kilo tonnes) in the October-December period, declining 2 per cent from 930 Kt in the corresponding period a year ago

Indian business families that are shifting control to their next generation

From Ambani to Birla, more and more business families in India are showing trust in their scions

Aditya Birla group to invest in green energy as rivals make commitments

'Thin line between hustle and hubris', Kumar Mangalam Birla warns upcoming companies in blog post

IRM India Affiliate, Ultratech to bolster risk-readiness in cement sector

The two will be organising webinars, roundtables, industry meetings, and thought leadership articles towards knowledge building for the sector

Govt open to a comprehensive package for Vodafone Idea, with conditions

It wants promoters to pitch in first or bring new investors

Aditya Birla Group led incubator buys majority stake in 8 lifestyle brands

With these eight brands on board, TMRW has achieved a revenue run-rate of over Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months