The Aditya Birla Capital Limited has announced that it will be raising USD 153 million (Rs 2,100 crore) from the US-based private equity firm Advent International and homegrown investor Premjiinvest.
The holding company of the Aditya Birla Group’s financial services businesses said in a stock-exchange filing that “Advent will pit Rs 1,000 crore while the Azim Premji’s Wipro Ltd will pump in Rs 100 crore via primary equity capital.”
The company Advent will hold 4.15 percent of stake and PremjiInvest will own around 4.11 percent. PremjiInvest is already an existing investor. In July, PremjiInvest had brought the stake in the company for Rs 703.7 crore. At the end of June, it owned a 3.77 percent stake in the company.
Advent had raised USD 17.5 billion three months back for its ninth global private equity fund.
The company has been active in India since 2007 and had invested nearly USD 1 billion in the country before signing the deal with Aditya Birla Capital.