Shares of Aditya Birla Capital rose 5 percent on Tuesday’s first half session, hitting an all-time high of Rs 190.30 apiece on the NSE, amid fund-raising plans.
As per the exchange filing, The company planned to raise up to Rs 1,750 crore in equity shares through qualified institutions placement (QIP) at a 2.9 percent discount to Monday’s closing price, with a floor price of Rs 175.99. The Company stated that the funds received will be utilised to fulfil capitalization requirements.
On Monday, Aditya Birla Capital approved the allotment of 7,57,11,688 shares at Rs 165.10 per share to Grasim Industries and Surya Kiran Investments, both members of the promoter group, for an aggregate value of Rs 1,249.99 crore.
Grasim Industries received 6,05,69,351 shares from Aditya Birla Capital, while Surya Kiran Investments received Rs 1,51,42,337 shares.
As of March 31, Grasim Industries held 1,30,92,40,000 shares of Aditya Birla Capital, representing 54.15 percent. Surya Kiran Investments, on the other hand, held 2,25,07,000 shares or 0.93 percent in the firm.
At 1:35 pm, the stock quoted Rs 190 apiece, up 4.83 percent on NSE.
The company’s share has delivered multibagger returns of 104 percent in a year and 27 percent in six months.
Aditya Birla Capital Ltd is one of India’s top NBFCs which provides services like personal finance, mortgage finance, SME finance, and many more.
As per company financials, revenue climbed 23 percent yearly, rising from Rs 22,229 crore in FY 21-22 to Rs 27,415 crore in FY 22-23. During the same period, net profit climbed by 245 percent, from Rs 1,319 crore to Rs 4,551 crore and the firm recorded a debt-to-equity ratio of 7.57.
As of FY23, the promoter owned 71.02 percent of the firm, Foreign institutional investors held 7.32 percent, and retail investors held 12.92 percent.
Written by Omkar C
