Azim Premji firm to buy 2.2% stake in Aditya Birla Capital for Rs700 crore

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New Delhi: Aditya Birla Capital Ltd, the financial services arm of the Aditya Birla Group, on Thursday signed an agreement to sell a 2.2% stake to PremjiInvest, the family investment arm of Wipro chairman Azim Premji, for around Rs700 crore.

The deal values the Aditya Birla Capital at around Rs32,000 crore.

Aditya Birla Group chairman Kumar Mangalam Birla said he expects Aditya Birla Capital to list “by middle of August”. As of 31 March, Aditya Birla Capital had assets under management of Rs2.46 trillion and a lending book of Rs38,800 crore.