Aditya Birla Finance To Raise Up To Rs 2,000 Cr Through Its Maiden Public Issue Of NCDs

Aditya Birla Finance Limited, a subsidiary of Aditya Birla Capital Limited, has announced its first public issue of NCDs for an amount up to ₹ 1,000 crores with an option to retain over subscription up to ₹ 1,000 crores, aggregating up to 2,00,00,000 NCDs for an aggregate amount of up to ₹ 2,000 crores, pursuant to a prospectus dated September 21, 2023 filed by the Company with the RoC and the Stock Exchanges.

The NCDs proposed to be issued pursuant to this Issue have been rated IND AAA Outlook Stable and rated [ICRA] AAA (Stable) by India Ratings & Research Private Limited and by ICRA Limited, respectively. The ratings are valid and will continue to be valid for the life of the instrument unless withdrawn or reviewed. Instruments with this rating are considered to have a highest degree of safety regarding timely servicing of financial obligations and carry the lowest credit risk.

Trust Investment Advisors Private Limited, A.K. Capital Services Limited, JM Financial Limited, and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) are the lead managers to the Issue.

The Issue will open on Wednesday, September 27, 2023, and close on Thursday, October 12, 2023, with an option of early closure of the Issue on such date, as may be decided by the Board of Directors of the Company or a duly authorised committee thereof, subject to compliance with applicable laws. Allotment of NCDs shall be made, in consultation with the Designated Stock Exchange, on a date priority basis, i.e., a first-come, first-serve basis, based on the date of upload of each application into the Electronic Book with Stock Exchanges, in each Portion subject to the Allocation Ratio specified in the prospectus. However, from the date of over subscription and thereafter, the allotment will be on proportionate basis as detailed in the Prospectus.

The Company proposes to utilise at least 75% of the net proceeds of the Issue towards onward lending, financing and repayment of interest and principal of existing borrowings of the Company and a maximum of up to 25% of the net proceeds towards general corporate purposes.

All the capitalised terms herein but not specifically defined shall have the same meaning as ascribed to such terms in the Prospectus.