Aditya Birla Financial Services Limited announced that it has received INR 7.03 billion in funding from PremjiInvest
Aditya Birla Financial Services Limited announced that it has received INR 7,037,360,000 in an equity round of funding from new investor, PI Opportunities Fund I, a fund managed by PremjiInvest on June 29, 2017. The company issued 48,400,000 shares at a price of INR 145.40 per share which includes INR 135.40 share premium in the transaction. The investor has acquired 2.2% stake in the company. The company reported total revenues of INR 6,190,000,000 and net income of INR 58,860,000,000 for the year ended March 31, 2017. The funding was raised at a post money valuation of INR 320,000,000,000.