Aditya Birla Capital raises ₹4,000cr backed by Grasim Industries, IFC
Business
Aditya Birla Capital (ABCL) has secured ₹4,000 crore by issuing new shares, with big names like Grasim Industries and IFC pitching in.
This fresh funding is all about giving ABCL more muscle to grow and support its financial services.
ABCL plans SME lending boost
The new shares are priced at ₹356.02 each. With this boost, ABCL plans to ramp up lending, especially for small and medium enterprises (SMEs), which already make up over half its loan portfolio.
Chairman Kumar Mangalam Birla highlighted that this move will help drive financial inclusion and build capital across India.
IFC's Sarvesh Suri added that its investment aims to open up more opportunities for MSMEs and create jobs for a stronger economy.