BackAditya Birla Capital to raise Rs2,100 crore equity capital
Aditya Birla Capital will take up the proposal for the consideration of shareholders at its extraordinary general meeting to be held on October 5Board approves the creation, offer, issue and allotment of 21 crore equity shares at a price of Rs100 per share including premium of Rs90
PremiumNEW DELHI : Aditya Birla Capital on Tuesday said its board has given approval to raise Rs2,100 crore equity capital, to fund the firm's business growth.
The non-banking financial company will take up the proposal for the consideration of shareholders at its extraordinary general meeting to be held on October 5.
"The board has approved the creation, offer, issue and allotment of 21 crore equity shares at a price of Rs100 per share including premium of Rs90 for an aggregate consideration of Rs21,000 million by way of preferential allotment to the proposed allottees," it said in a regulatory filing.
Aditya Birla Capital said that in view of the future outlook of the company, its growth targets and prospects, the company requires additional funding to augment its long-term resources including for servicing/repayment of indebtedness, capital expenditure, investment in subsidiaries or joint ventures.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
