Aditya Birla Nuvo has decided to create a holding company for its financial services business comprising asset management, insurance stock broking and distribution. The move is aimed to unlock shareholder value. Aditya Birla Nuvo will entirely own the holding firm initially, but later it might divest a minority stake to financial investors. It has sought the RBI approval for setting up a holding company.
Some private equity players have shown interest in picking up a stake in the proposed holding company. The company has gained critical mass in AMC and insurance businesses. The plan seems to be a precursor to a possible listing of the financial services business at an opportune moment. The $29-billion group runs a large mutual fund and life insurance business in partnership with
Company Name | CMP |
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Grasim Industries | 2362.90 |
DCM Shriram | 911.50 |
Birla Corporation | 1465.00 |
Surya Roshni | 561.00 |
Century Textile &Ind | 1917.45 |
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