Aditya Birla Capital Set To Become Non-Banking Financial Company

Diversified financial services player Aditya Birla Capital said an investment of Rs 60 crore in its wholly owned subsidiary, Aditya Birla Capital Digital, through a rights issue. The investment, disclosed in a regulatory filing, does not alter the parent company's 100% ownership stake in in its unit, Aditya Birla Capital, which is set to become a non-banking financial company (NBFC) after combining with another unit, said in an exchange filing.

The company had earlier invested Rs 300 crore in a different unit, Aditya Birla Housing Finance Ltd (ABHFL), through a rights issue of equity shares. The company stated that the funds will support in its unit's growth and funding requirements within the financial services industry. This strategic move aligns with the company's ongoing efforts to enhance its digital capabilities and expand its service offerings.

The financial services firm has been actively working to strengthen its portfolio in the digital financial services space, reflecting a broader industry trend towards digitalization. This investment underscores the company's commitment to sustaining growth and meeting evolving market demands.