Advent to infuse capital of Rs 2,750 crore in Aditya Birla Housing Finance
India, Feb. 3 -- The Boards of Directors of Aditya Birla Capital (ABCL) and Aditya Birla Housing Finance (ABHFL) approved a proposal for a primary capital infusion of Rs. 2,750 crore in ABHFL (a wholly owned subsidiary of ABCL) from Indriya, one of the entities of Advent International (Advent). The completion of the transaction is subject to shareholder approval, regulatory approvals and other customary conditions.The transaction values ABHFL at Rs.19,250 crore, on a post money basis. Upon completion of the transaction, ABCL will hold about 85.7% and Advent will hold about 14.3% stake in ABHFL.ABHFL is one of the fastest growing housing finance companies in India and is among the top 3 players in terms of incremental loan book growth. The A...
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