Premji Invest Likely To Buy Stake In Aditya Birla Capital

Aditya Birla group stocks have been buzzing on the bourses as the Wipro Chairman, Azim Premji’s private equity investment fund, Premji Invest is planning to buy around 2.2% stake in Aditya Birla Capital Limited after it completes an internal restructuring.

Premji Invest would buy the stake at around Rs 700 crore, as per reports published in a leading news daily. The deal is speculated to happen only after the planned merger of Grasim Industries and Aditya Birla Nuvo is completed.

Aditya Birla Money Limited jumped over 9.5% on BSE, Aditya Birla Nuvo Limited rose by over 2.5% and Aditya Birla Fashion and Retail gained 1.2% in the first half of Friday’s trade on BSE.

Meanwhile, Nifty was trading at 9,487 level down by 17 points and Sensex was trading down by 54 points at 30,802 level in the pre-lunch hour on Friday.

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About Suhani Varma

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