Aditya Birla Capital’s $293 Million Round Funding


Khaitan & Co advised Advent International Corporation on the acquisition of a minority stake in Aditya Birla Capital Limited

Aditya Birla Capital raises $293 million through preferential allotment of equity.

Aditya Birla Capital Limited, is the holding company of the financial services businesses of the Aditya Birla Group.

ABCL has entered into definitive share subscription agreements with Jomei Investments Limited, an affiliate of Advent International (“Advent”), one of the largest and most experienced global private equity investors, and PI Opportunities Fund, an affiliate of Premji Invest. Upon the completion of the issuance, Advent, through its affiliate, will hold approximately 4.15 % of ABCL’s equity capital, while Premji Invest, through its affiliates will hold approximately 4.11% of ABCL’s equity capital. The Promoter and Promoter Group entities will hold about 70.54 % in ABCL upon the completion of the issuance. The funds raised will be utilised to fund the future growth of the Company’s businesses as well as to repay outstanding debt.

ABCL, through its subsidiaries, has created a large and high quality financial services franchise with a track record of consistent execution. In the current market environment, this transaction is testament to the quality and size of business created by ABCL, and its consistent and solid performance over the years. With aggregate AAUM (across asset management and insurance businesses) of over Rs 3 lakh crores2, a lending book of Rs 62,000 crores2 across its NBFC and Housing Finance businesses, and gross written premium of over 8,000 crores3, ABCL, through its subsidiaries, is a significant fund manager, lender and insurer in India.

ABCL, through its subsidiaries, enjoys a strong presence across NBFC, asset management, life insurance, housing finance, health insurance, general insurance broking, wealth management, equity, currency and commodity broking, pension fund management and asset reconstruction businesses.

Khaitan & Co advised Advent International Corporation on the deal with a team including Aakash Choubey (Picture), Abhishek Dadoo, Vidushi Gupta, Abir Sarkar, Reshma Abraham, Tanvi Dabir, Rahul Singh, Anisha Chand and Atul Pandey.

Involved fees earner: Anisha Chand – Khaitan & Co.; Aakash Choubey – Khaitan & Co.; Atul Pandey – Khaitan & Co.; Rahul Singh – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Advent International;