Aditya Birla Capital Unifies Financial Forces: A Strategic Amalgamation

Aditya Birla Capital has successfully completed the amalgamation of Aditya Birla Finance, its wholly-owned subsidiary, to form a unified NBFC. The merger, approved by NCLT, aims to enhance financial stability and operational efficiency. New leadership appointments have been announced, subject to regulatory approvals, to guide the company through its next growth phase.

Aditya Birla Capital announced on Monday the completion of its merger with Aditya Birla Finance, creating a single, larger non-banking financial company (NBFC). The move was sanctioned by the National Company Law Tribunal's Ahmedabad Bench on March 24, and the merger took effect on April 1.

In March of the previous year, the boards of both companies had agreed to the consolidation, pending statutory and regulatory approvals. The board also approved key leadership changes, with Vishakha Mulye being appointed as the Managing Director and Chief Executive Officer, and Rakesh Singh taking up the role of Executive Director, both appointments are subject to necessary approvals.

Kumar Mangalam Birla, Chairman of Aditya Birla Group, highlighted the potential for accelerated growth and financial inclusion brought about by the merger. The unified company boasts assets under management of over Rs 5.03 lakh crore and aims to deliver financial solutions to a wide customer base across India.

(With inputs from agencies.)