It is time to unlock value in financial svcs biz: Srinivasan

AB Nuvo and Grasim’s merger was approved today by both the boards. Post the merger, financial business of AB Nuvo will be demerged and is likely to be listed on the stock exchanges. The growth of financial services business has been on a steady rise in last many years, says Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group. “We have 12-13 businesses underneath and in each business we have built scale,” he says. The time was right to unlock values and give investors the chance to benefit from it, he adds. Certain verticals will require funding to scale up like housing finance, insurance and non-banking finance company. The company has no plans of listing the verticals separately anytime soon. Watch video for more..