On June 2, Aditya Birla Capital Limited (ABCL) shares hiked nearly 2.6% after its subsidiaries proclaimed an investment in its preferential issue. On June 1, ABCL announced that its promoter firms, namely Grasim Industries and the holding company Surya Kiran Investments, planned to invest Rs 1,000 crore and Rs 250 crore in its preferential issue of shares.

At 9:30 am, the stock recorded a 52-week high at Rs 176.55 on BSE, which rose 2.59% from its previous close.

On June 1, the business announced that its board members gave a green signal for preferential issuance of Rs 1,250 crore at a share price of Rs 165.10 apiece to its promoter and promoter group entity out of the aggregate approved equity fundraising of Rs 3,000 crore.

The raised funds will be used to strengthen the capital base, uplift the solvency margin and leverage ratio, accomplish the growth and funding requirements, and create strategic investments in subsidiaries, associates, and joint ventures engaged in specific businesses, along with in technology, IT infrastructure, and digital offering ventures.

As of March 31, 2023, Aditya Birla Capital Limited oversees an aggregate of about Rs 3.6 lakh crore in the entire assets under management (AUM). Thus, their borrowing assets under management (AUM) amount to Rs 94,364 crore, with life and health insurance businesses adding a gross written premium of Rs 17,787 crore.

In financial performance, for the fiscal year 2023, the firm logged a combined revenue of Rs 29,999 crore. Furthermore, their profit after tax (PAT), excluding fair value gains, reached Rs 2,057 crore.