Mumbai, India, September 1, 2017: Aditya Birla Capital Limited (ABCL), formerly known as Aditya Birla Financial Services Limited, the holding company of the financial services businesses of the Aditya Birla Group, today listed on the Stock Exchanges, at an opening price of Rs.250.00, which implies a market capitalisation of over Rs.55,000 crore.
Aditya Birla Group Chairman, Mr. Kumar Mangalam Birla, rang the opening bell to signal the listing of ABCL.
Speaking on the occasion, Mr. Birla said, “The financial services sector is a key driver for the India growth story and is core to the Group’s strategy. The integration of all our financial services businesses under one corporate listed structure enables us to accelerate our already splendid growth. We believe that all customer needs are best served if he or she can be assured of having them met by one trusted entity. With the listing of ABCL we also unlock embedded value for investors, positioning us for future growth.”
Ajay Srinivasan, Chief Executive, Aditya Birla Capital, added: "ABCL is in a unique position of being able to provide Universal Financial Solutions to meet our customers’ money needs for life. Our sharply customer-centric approach under one brand will ensure we continue to chart a differentiated, accelerated and disciplined path to growth.”
“ABCL has built leadership positions in a number of businesses and ranks amongst the top fund managers in India with an aggregate AUM of Rs.2.6 Lakh crore and a lending book of over Rs.41 Thousand crore as of June, 2017,” he added.
About Aditya Birla Capital Limited – A Significant Universal Financial Solutions Group
Aditya Birla Capital Limited (ABCL) is the holding company of all the financial services businesses of the Aditya Birla Group. With a strong presence across the life insurance, asset management, private equity, corporate lending, structured finance, project finance, general insurance broking, wealth management, equity, currency and commodity broking, online personal finance management, housing finance, pension fund management and health insurance business, ABCL is committed to serving the end-to-end financial services needs of its retail and corporate customers.
Formerly known as the Aditya Birla Financial Services Limited (ABFSL), ABCL ranks among the largest fund managers in India, and has a lending book of Rs. 411 billion as on June 2017. For financial year 2016-17, aggregate revenue of ABCL stood at Rs.106 billion and profit before tax at Rs.11.5 billion. Anchored by more than 12,500 employees, ABCL has a nationwide reach through over 1,300 points of presence and more than 150,000 agents / channel partners, serving over 13.5 million customers.
Aditya Birla Group
Aditya Birla Capital Limited is a part of the Aditya Birla Group, a USD 40 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across the globe. About 50 per cent of its revenues flow from its overseas operations.
Disclaimer : Certain statements in this “Press Release” may not be based on historical information or facts and may be “forward looking statements” within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans and strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This “Press Release” does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s shares. The financial figures in this “Press Release” have been rounded off to the nearest ` one Crore. The financial results are consolidated financials unless otherwise specified.
Dr. Pragnya RamGroup Executive President, Corporate Communications & CSRAditya Birla Management Corporation Private LimitedAditya Birla Centre, 1st Floor, 'C' WingS.K. Ahire Marg, WorliMumbai 400 030.
91-22-6652 5000 /2499 5000
Fax: 91-22-6652 5741/ 42