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.