IRDAI approves Abu Dhabi Investment's Rs665 crore infusion in Aditya Birla Health Insurance

6 Oct 2022 , 09:27 AM

Aditya Birla Capital Limited informed that it has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the sale of a 9.99% stake in Aditya Birla Health Insurance Co. Limited (ABHI).

The company said on August 12, 2022, “the boards of Aditya Birla Capital Limited and Aditya Birla Health Insurance Co. Limited, a non-material subsidiary of the Company, approving a primary capital infusion of approximately Rs665 crore for 9.99% stake in the post issue equity share capital of ABHI, from a wholly owned subsidiary of the Abu Dhabi Investment Authority, subject to regulatory and other statutory approvals.”

The company further added that the proposed transaction is conditional on the completion of the closing conditions listed in the definitive agreement(s), as well as the issue and allotment of equity shares by ABHI to the Investor.

At around 9.30 AM, Aditya Birla Capital was trading at Rs116.45 up by 1.09% from its previous closing of Rs115.20 on the BSE. The scrip opened at Rs115.65 and touched intraday high and low of Rs116.45 and Rs115.45 respectively.

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