Tag: Aditya Birla Group

IndustryLatest Stories

UltraTech Cement Resolves JAL Dispute, Redeems ₹1,000 Crore Shares

UltraTech Cement has reached a resolution with Jaiprakash Associates (JAL) regarding a long-standing arbitration issue, agreeing to redeem ₹1,000 crore in preference shares associated with the Dalla Super cement facility, according to sources familiar with the matter. This agreement paves the way for monetizing Jaypee assets following a bankruptcy court’s recent approval for the Adani Group to take control of JAL. The Adani Group has proposed to pay ₹14,535 crore to acquire the bankrupt JAL in the insolvency process, although the group has not yet completed payments to creditors. The settlement with UltraTech’s flagship cement division is expected to lessen…

Housing FinanceLatest Stories

Advent to Invest ₹2,750 Crore for 14.3% Stake in Aditya Birla

MUMBAI: Advent International, a leading private equity firm, has announced its intention to invest ₹2,750 crore for a 14.3% stake in Aditya Birla Housing Finance (ABHF), as revealed by both companies on Tuesday. ABHF is a wholly-owned subsidiary of Aditya Birla Capital (ABC), which serves as the financial services arm of the diversified Aditya Birla Group. The investment will be made by Indriya, an Advent entity, through a primary share issuance, according to an official statement. The boards of ABC and ABHF have given their approval for the capital raise, with the transaction pending approval from shareholders, regulatory bodies, and…