Aditya Birla Finance to merge with parent Aditya Birla Capital
The Hindu
Aditya Birla Capital Ltd. has announced the amalgamation of Aditya Birla Finance Ltd., its wholly-owned subsidiary, with itself to create a large unified operating non-banking finance company (NBFC).
Aditya Birla Capital Ltd. has announced the amalgamation of Aditya Birla Finance Ltd., its wholly-owned subsidiary, with itself to create a large unified operating non-banking finance company (NBFC).
The board of directors of both the companies on Monday approved the scheme of amalgamation which is subject to regulatory and other approvals.
Aditya Birla Capital is a listed, systemically important non-deposit taking core investment company (NBFC-CIC). Aditya Birla Finance is a non-deposit taking systematically important NBFC (NBFC-ICC).
Kumar Mangalam Birla, Chairman Aditya Birla Group said, “The proposed amalgamation will create a strong capital base for Aditya Birla Capital to grow its business ......”
Vishakha Mulye, CEO, Aditya Birla Capital said, “The proposed amalgamation will help us to serve our customers better, achieve efficient utilisation of capital, enhance operational efficiencies, and holds the potential to create long-term value for all our stakeholders.”
Upon the scheme becoming effective, Vishakha Mulye would assume the role as MD & CEO and Rakesh Singh would be the Executive Director and CEO (NBFC) of the amalgamated company.
The proposed amalgamation would result in reduction of legal entities and simplification of the group structure of Aditya Birla Capital. Post completion of the amalgamation, Aditya Birla Capital would get converted from a holding company to an operating NBFC.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.
Suzlon announces three new AI-enabled smart blade factories, expanding its manufacturing footprint to 20 facilities in India.
Odisha Government terminates Silicon Tech Lab's empanelment for involvement in a recruitment scam and service agreement violations.
Worli, Mumbai, dominates India’s ultra-luxury apartment market, accounting for 40% of transactions worth ₹5,500 crore in two years.
IndiGo faces disruptions due to a hiring freeze, prompting pilots' body to urge regulatory intervention for safe operations.
Nvidia CEO Jensen Huang met separately with U.S. President Donald Trump and Republican senators Wednesday
Rupee falls to 90.43 against the dollar amid RBI's restrained intervention and high importer demand, causing market concerns.
Meta’s poaching of Apple's Alan Dye underscores its push to expand consumer hardware beyond its smart glasses
Airbus orders upgrades for 6,000 A320 aircraft after a JetBlue incident raises concerns about software vulnerability to solar radiation.