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Aditya Birla Capital launches QIP, floor price set at Rs.175.99 per equity share

Aditya Birla Capital Limited (ABCL), a holding company for the financial services businesses of the Aditya Birla Group, announced on June 26, 2023, that the company had launched a qualified institutional placement (QIP) issue. As per the regulatory filing, the floor price says QIP is set at Rs. 175.99 per equity share, based on the pricing formula.

Aditya Birla Capital later on June 26 said that the company's Shareholders Relationship Committee had approved the allotment of 7,57,11,688 equity shares of face value Rs. 10/- each on a preferential basis at a price of Rs 165.10 each, including a premium of Rs. 155 to Grasim Industries and Surya Kiran Investments, a member of the promoter group, for an aggregate consideration of Rs 1,249.99 crore. Grasim Industries will be allotted 6,05,69,351 shares and 1,51,42,337 shares to Surya Kiran Investments. Grasim Industries in total holds 54.15 percent, stake in Aditya Birla Capital as of March 31. On the other hand, Surya Kiran Investments owned 0.93 percent stake in the company.

Earlier on May 11, 2023, Aditya Birla Capital said that the board of directors has approved equity fundraising through equity or debt routes in one or more tranches of up to Rs. 3,000 crores.

On June 24, the company received 99.69 percent of the votes in favour of the issuance of equity shares on a preferential basis for an aggregate consideration of Rs 1,250 crore. Additionally, it received 99.86 percent votes for a special resolution seeking securities issuance for an aggregate consideration of Rs 1,750 crore.

As of March 31, 2022, the company had 19 Indian subsidiaries and five foreign subsidiaries. As of March 31, 2022, ABCL manages assets under management of over Rs. 3,706 billion, has a consolidated lending book of around Rs. 672 billion, and has an active customer base of over 35 million through its subsidiaries and joint ventures.

Year to date, Aditya Birla Capital's stock has risen by 20%. In the financial year 2022–23, total revenue on a consolidated basis saw a whopping 35% rise to Rs. 30000 crore, whereas consolidated profit surged 181% to Rs. 4,796 crore. Operating Profit Margin also saw an improvement from 24% in FY2022 to 36% in FY23.

As of March 31, 2023, the promoters together held 71.02 percent stake in the company. Shares of Aditya Birla Capital made gap up opening on June, 27 and at the time of reporting is up 3.9% at Rs 188.40.

ANNUAL FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Total Revenue 30,201.33 22,241.35 19,273.78 16,709.30 15,171.97
Total Revenue Growth (%) 35.79 15.4 15.35 10.13 31.62
Total Expenses 24,838.67 20,295.53 17,996.50 15,670.49 14,017.16
Total Expenses Growth (%) 22.38 12.77 14.84 11.8 32.15
Profit after Tax (PAT) 4,795.77 1,705.97 1,126.54 919.78 870.94
PAT Growth (%) 181.12 51.43 22.48 5.61 25.67
Operating Profit Margin (%) 36.78 24.4 26.97 33.98 34.71
Net Profit Margin (%) 17.49 7.67 5.85 5.51 5.74
Basic EPS (₹) 19.84 7.06 4.67 4.07 3.96


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