Aditya Birla Capital announced on Monday the approval of the merger between Aditya Birla Finance and the parent company, aiming to form a consolidated operating Non-Banking Financial Company (NBFC). This strategic move is contingent upon regulatory clearances and other necessary approvals, with the combined entity expected to bolster its financial prowess and flexibility, facilitating direct access to capital.
Chairman Kumar Mangalam Birla expressed optimism about the merger, citing its potential to fortify Aditya Birla Capital’s financial base and position it to actively contribute to India’s economic growth. CEO Vishakha Mulye highlighted the merger’s benefits, including improved customer service, optimized capital utilization, enhanced operational efficiencies, and the creation of long-term stakeholder value. Following the integration, Aditya Birla Capital will transition from a holding company to a functional NBFC, aiming for rationalization of its group structure and bolstering financial stability while aiming for increased operational efficiency.
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