Jomei Investments is likely to sell up to a 2% stake in Aditya Birla Capital Ltd (ABCL) through block deals, according to sources. The investor plans to offload around 53.2 million shares at a floor price of ₹304.55 per share.

Jomei Investments is a special purpose vehicle owned by Advent International Corporation, while ABCL is the holding company of the financial services businesses of the Aditya Birla Group.

Also Read: Aditya Birla Capital shares may rise 50% from current levels, Macquarie says

The floor price represents a discount of 0 –2% to the company’s current market price. The proposed transaction is expected to raise over ₹1,600 crore based on the floor price.

First Quarter Results

Aditya Birla Capital's consolidated net profit rose 10% year-on-year to ₹835 crore, whi

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