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

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Aditya Birla Capital Limited knowledgeable that it has obtained 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 firm stated 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 firm additional added that the proposed transaction is conditional on the completion of the closing situations listed in the definitive settlement(s), in addition to the difficulty and allotment of fairness shares by ABHI to the Investor.

At round 9.30 AM, Aditya Birla Capital was buying and selling at Rs116.45 up by 1.09% from its earlier closing of Rs115.20 on the BSE. The scrip opened at Rs115.65 and touched intraday excessive and low of Rs116.45 and Rs115.45 respectively.

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