Aditya Birla Capital has announced the launch of its qualified institutional placement (QIP) on June 26. The floor price of QIP is set at Rs 175.99 per share as mentioned in the regulatory fillings.
Aditya Birla Capital on May 11, 2023, said that its board has approved fundraising of up to Rs 3,000 crore through equity or debt routes in one or more than one tranches. As per the reports by Moneycontrol, the company had held a series of discussions under its new CEO Vishakha Mulye to shortlist four investment banks for its next fund-raising exercise through the QIP route.
The firm went into discussions with Jefferies, ICICI Securities, BofA Securities and Axis Capital for the proposal of QIP. Under the new leadership of Mulye, Aditya Birla Capital has expanded across multiple segments and is now eyeing the next stage of growth, especially in the sectors of lending and insurance sectors as per Moneycontrol.
Aditya Birla Capital earlier today announced that its stakeholder committee has approved the allotment of 7,57,11,688 shares at a price of Rs 165.10 per share to Grasim industries and Surya Kiran Investments for an aggregate consideration of Rs 1,249.99 crore, both the firm are member of the promoter group.
