MUMBAI: Aditya Birla Capital has announced an infusion of ₹300 crore into its subsidiary Aditya Birla Housing Finance through a rights issue. The investment aims to support the growth of the housing finance company and improve its leverage ratio.
Aditya Birla Capital will maintain full ownership of the mortgage lender after the capital infusion.
“Aditya Birla Capital has made an investment of ₹300 crore on a rights basis in the equity shares of Aditya Birla Housing Finance,” according to a stock exchange filing.
“There is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Housing Finance remains a wholly-owned subsidiary of the company.”
The mortgage lender recently secured an investment of ₹830 crore through non-convertible debentures from the International Finance Corporation.
These funds will be used to offer home loans to low-income and middle-income groups. A part of the loan will be used to fund MSMEs, focusing on women-led enterprises, to foster growth and economic development.
Source Homevior.in
