Aditya Birla Capital has received IRDAI approval for 665 crore investment in Aditya Birla Health

The sale of a 9.99% share in Aditya Birla Health Insurance Co. Limited has been authorised by the Insurance Regulatory and Development Authority of India (IRDAI), according to Aditya Birla Capital Limited (ABHI).

According to the company, on August 12, 2022, “subject to regulatory and other statutory approvals, the boards of Aditya Birla Capital Limited and Aditya Birla Health Insurance Co. Limited, a non-material subsidiary of the Company, approved a primary capital infusion of approximately Rs665 crore for a 9.99% stake in the post-issue equity share capital of ABHI, from a wholly owned subsidiary of the Abu Dhabi Investment Authority.” The proposed transaction, the business said, is subject to the satisfaction of the closing requirements outlined in the definitive agreement(s), as well as the issuance and allocation of equity shares by ABHI to the Investor.

Aditya Birla Capital was trading at Rs116.45 at roughly 9:30 AM, up 1.09% from its previous BSE closing price of Rs115.20. The stock had an intraday high and low of Rs116.45 and Rs115.45, respectively, after opening at Rs115.65.

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