Major Investment Firms Acquire Stake in Aditya Birla Capital
Investment giants including Mirae Asset MF, BlackRock, and Goldman Sachs purchased a 1.8% stake in Aditya Birla Capital for Rs 1,136 crore. Other investors like Motilal Oswal MF also participated. This acquisition highlights significant investment moves within the financial services sector.
- Country:
- India
In a significant financial development, several major investment firms, including Mirae Asset MF, BlackRock, and Goldman Sachs, acquired a 1.8% stake in Aditya Birla Capital for Rs 1,136 crore through open market transactions. This strategic move underscores the firm's appeal in the financial services sector.
Other prominent investors like Motilal Oswal Mutual Fund, Edelweiss MF, and HSBC MF joined the acquisition, buying shares of the Mumbai-based company at an average price of Rs 242.65 each. The purchase collectively amounted to over 4.68 crore equity shares or 1.8% of the company.
Meanwhile, Advent International's special purpose vehicle, Jomei Investments, offloaded a substantial portion of its shares, reducing its stake in Aditya Birla Capital from 3.84% to 2.04%. The deals resulted in a slight increase in the company's share price on both the BSE and NSE.
(With inputs from agencies.)
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