Following the transaction, the shareholding of Aditya Birla Capital in Aditya Birla Housing Finance remains unchanged at 100%, and the entity continues to be a wholly owned subsidiary of the company.
Also Read: Aditya Birla Sun Life MF launches Apex Hybrid Long-Short Fund under SIF frameworkAditya Birla Housing Finance operates in the housing finance industry. The company said the investment has been made to fund the subsidiary’s growth and improve its leverage ratio. The transaction qualifies as a related party transaction as Aditya Birla Housing Finance is a wholly owned subsidiary of Aditya Birla Capital. The company said the transaction has been carried out at arm’s length.
The subscription was undertaken through a rights issue of equity shares by the subsidiary, with the consideration paid entirely in cash. No governmental or regulatory approvals were required for the investment, the company said in its disclosure to stock exchanges.
Shares of Aditya Birla Capital Ltd ended at ₹333.20, up by ₹8.85, or 2.73%, on the BSE.
Also Read: Aditya Birla Capital shares gain after equity worth ₹819 crore changes hands in large trade
(Edited by : Jomy Jos Pullokaran)

