India, April 17 -- Aditya Birla Capital Ltd announced that its housing finance arm, Aditya Birla Housing Finance Ltd (ABHFL), has raised Rs 2,750 crore through a 14.29% stake sale to Indriya Ltd, an entity backed by Advent International.
Following the transaction, ABHFL has ceased to be a wholly owned subsidiary, with Aditya Birla Capital Ltd retaining an 85.505% stake in the company.
The fundraise was executed through the allotment of 12.32 crore equity shares at Rs 223.12 per share to Indriya Ltd on a preferential basis via private placement, as approved by ABHFL's board on April 17.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....