Mumbai: Aditya Birla Group company Pilani Investment and Industries Corporation will seek shareholders' approval on June 30 to raise the borrowing limit to Rs 3,500 crore, a statement said on Wednesday.
Pilani Investment and Industries Corporation is holding its annual general meeting on June 30, which will also consider dividend payment for 2024-25. The company's board has recommended a dividend of Rs 15 per equity share of face value of Rs 10 each for FY25, the Aditya Birla Group company said. The record date has been fixed as June 23 for the dividend payment.
Pilani Investment and Industries Corporation also announced receiving approval from the Reserve Bank for the conversion of the company from a Non-Banking Financial Company (NBFC-ICC) to a Core Investment Company (CIC).
"The company has received a Fresh Certificate of Registration on conversion from NBFC-ICC to CIC," the statement said.
Pilani Investment and Industries Corporation primarily focuses on managing investments in other Birla Group companies and providing them with financing solutions.
The company has reported a net profit of Rs 98.46 crore for FY 2024-25. Its total income during the year ended March 2025 was reported at Rs 307 crore.
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