Aditya Birla Nuvo has transferred its around 23% stake in Idea Cellular to subsidiary firm Grasim Industries. The transfer has been made pursuant to the composite scheme of arrangement between Aditya Birla Nuvo and Grasim Industries and Aditya Birla Financial Services and their respective shareholders. The scheme was approved by National Company Law Tribunal on June 1, 2017.
Aditya Birla Nuvo ranks amongst the top fund managers in India with an aggregate AUM (across asset management, private equity and insurance businesses) of Rs 2.46 lakh crore and a lending book of Rs 38.8 thousand crore as of March 31, 2017.
