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Aditya Birla Capital looks to step up its digital & payments play via digital arm

Inc42 · 1y ago

Aditya Birla Capital looks to step up its digital & payments play via digital arm

Aditya Birla Capital is planning to enhance its digital distribution strategy through its subsidiary, Aditya Birla Capital Digital Ltd (ABCDL). With a focus on acquiring new customers, ABCDL aims to launch an app that will directly source customers for their financial services. The subsidiary has received INR 50 Cr from its parent company and aims to create an omnichannel platform for digital acquisition and cross-selling. ABCDL has also expanded its services to include payments, with plans to launch its payments handle in partnership with private sector banks.

Related News

Aditya Birla Digital Fashion Invests INR 75 Cr In WROGN

Inc42 · 10m ago

Aditya Birla Digital Fashion Invests INR 75 Cr In WROGN

Aditya Birla Digital Fashion Ventures has acquired a higher stake in the direct-to-consumer (D2C) fashion brand, WROGN, increasing its ownership from 17.10% to 32.84%. This move will help Aditya Birla Digital Fashion to expand its collection of digital-first brands and diversify its brand portfolio. The investment follows a previous acquisition by Aditya Birla Group's fashion and lifestyle arm, TMRW, which acquired a 16% stake in the parent company of WROGN.

Aditya Birla Capital infuses ₹750 crore into Aditya Birla Finance Limited

Livemint

Livemint · 1y ago

Aditya Birla Capital infuses ₹750 crore into Aditya Birla Finance Limited

Aditya Birla Capital has invested ₹750 crore in its subsidiary, Aditya Birla Finance, through a rights issue. The investment aims to support the subsidiary's growth, funding requirements, and leverage ratio improvement. Aditya Birla Finance also plans to raise up to ₹2,000 crore through its maiden public issue of non-convertible debentures (NCDs). At least 75% of the net proceeds from the NCD issue will be used for lending, financing, and repayment of existing borrowings, while the remaining 25% will be allocated for general corporate purposes.

Aditya Birla Capital, subsidiary Aditya Birla Finance to merge

Livemint

Livemint · 1y ago

Aditya Birla Capital, subsidiary Aditya Birla Finance to merge

Aditya Birla Capital has decided to merge its subsidiary, Aditya Birla Finance, with itself to avoid the public-listing requirement imposed by the Reserve Bank of India. This move aims to simplify the group's structure, strengthen Aditya Birla Capital as an operating non-banking finance company, and reduce regulatory complexities. The merger is subject to regulatory and other approvals and is expected to take effect in the next 9-12 months. Aditya Birla Capital's CEO, Vishakha Mulye, mentioned that they would seek permission from the RBI regarding their stake in the life insurance business, which would exceed the allowed limit.

Aditya Birla Finance to merge with parent in 12 months

Thehindubusinessline

Thehindubusinessline · 1y ago

Aditya Birla Finance to merge with parent in 12 months

Aditya Birla Capital has announced the merger of its wholly-owned subsidiary, Aditya Birla Finance, to create a unified operating non-banking financial company (NBFC). The merger is expected to be completed within the next 9-12 months and will consolidate the business and entities, simplify the group structure, enhance financial stability, and align business plans. Aditya Birla Capital will convert from a holding company to an operating NBFC after the merger, with the equity investment in Aditya Birla Finance being cancelled. The merger is in line with RBI's scale-based regulations and is subject to regulatory approvals.

Advent International-backed Aditya Birla Capital to merge with financial unit

VCCircle

VCCircle · 1y ago

Advent International-backed Aditya Birla Capital to merge with financial unit

India's Aditya Birla Capital has announced plans to merge with its subsidiary Aditya Birla Finance, converting from a holding company to an operating non-banking financial company. Following the merger, the combined entity will have total assets of INR 1.10tn ($13.30bn) as of December 2023 and expects to see an increase in its total capital adequacy ratio. The merger aims to enhance Aditya Birla Capital's financial strength and flexibility while maintaining the existing shareholding structure and management. The company's shares have gained 8.1% year-to-date.

Aditya Birla Capital sees digital platforms driving growth

Livemint

Livemint · 11m ago

Aditya Birla Capital sees digital platforms driving growth

Aditya Birla Capital is focusing on three digital platforms to drive growth and differentiate itself in a competitive landscape. It has already launched Udyog Plus for small businesses and the direct-to-consumer platform ABCD. A third platform, targeted at distributors and channel partners, will be launched in the coming months. The company aims to add 30 million customers to its base of 35 million over three years through the ABCD platform. Pankaj Gadgil, CEO of Aditya Birla Housing Finance, said the platforms will simplify onboarding and enhance the digital experience for customers.

Aditya Birla Group Chairman Kumar Mangalam’s children Ananya, Aryaman join Hindalco board | Mint

Livemint

Livemint · 1y ago

Aditya Birla Group Chairman Kumar Mangalam’s children Ananya, Aryaman join Hindalco board | Mint

Hindalco Industries, a subsidiary of the Aditya Birla Group, has appointed Ananya Birla and Aryaman Vikram Birla, the children of Kumar Mangalam Birla, to its board of directors. Ananya Birla is known for her entrepreneurship and music career, while Aryaman Vikram Birla has experience in entrepreneurship and venture capital investing. The board has also welcomed Anjani Kumar Agrawal and Sukanya Kripalu as independent directors, and Bharat Goenka as the CFO (Designate). The move follows the siblings' appointment to other key positions within the Aditya Birla Group in 2023. Hindalco Industries aims to focus on sustainability and a low-carbon future.

Aditya Birla Fashion Shares Dips 66%, but Don’t Panic—It’s Just the Demerger Math

OutlookIndia

OutlookIndia · 3m ago

Aditya Birla Fashion Shares Dips 66%, but Don’t Panic—It’s Just the Demerger Math

Shares of Aditya Birla Fashion Retail fell over 66% due to adjusting for the demerger of its Madura Fashion and Lifestyle business into a new entity, Aditya Birla Lifestyle Brands. This steep decline is a technical adjustment reflecting the separation of the businesses. Shareholders will receive one share in Aditya Birla Lifestyle for every share held in Aditya Birla Fashion. The demerger is intended to reallocate debt and focus different brand portfolios under each entity.

Qatar's Nebras deal with Aditya Birla Group's green arm on hold

Livemint

Livemint · 10m ago

Qatar's Nebras deal with Aditya Birla Group's green arm on hold

Qatar's Nebras Power's potential acquisition of up to 49% stake in Aditya Birla Group's renewable energy business for $400 million has been delayed due to a "valuation mismatch." Other bidders for Aditya Birla Renewables Ltd were Alberta Investment Management Corporation and BlackRock's Global Infrastructure Partners. India aims to double its green energy capacity to 500 GW by 2030, attracting interest from major investors. However, challenges in the Indian market include lower returns and higher execution risks. Aditya Birla Renewables plans to increase its renewable energy capacity to 4.5 GW by FY26, while Nebras Power has an installed capacity of 6.79 GW.

Aditya Birla Finance, others may have invoked Paytm’s loan guarantees

Economic Times

Economic Times · 1y ago

Aditya Birla Finance, others may have invoked Paytm’s loan guarantees

Aditya Birla Finance, Piramal Finance, and Clix Capital have terminated their partnerships with Paytm due to repayment defaults from customers. Aditya Birla Finance is said to have invoked loan guarantees provided by Paytm. This is causing financial strain for Paytm as these guarantees could amount to hundreds of crores of rupees. Paytm's lending business has been affected by the ban on Paytm Payments Bank and a slowdown in unsecured consumer lending. Paytm generated a significant portion of its revenue from its financial services, but with the recent developments, the company's lending partners have halted new disbursals, impacting repayments severely. Paytm may announce new partnerships with firms like Muthoot Fincorp to revive its loan issuance.

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