Aditya Birla Insurance Brokers

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Aditya Birla Capital completes sale of its stake in Aditya Birla Insurance Brokers to Edme Services

As part of the agreement, ABCL said it has received an upfront payment of Rs 252.16 crore from Edme Services. It further stated that with the completion of this transaction, ABIBL will no longer be a subsidiary of Aditya Birla Capital as of August 30, 2024, as Edme Services now holds 100% ownership of ABIBL.
Aditya Birla Capital to sell off insurance broking arm to Edme Services

The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital said in a regulatory filing.

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Aditya Birla Insurance Brokers

Aditya Birla Capital completes sale of its stake in Aditya Birla Insurance Brokers to Edme Services

Aditya Birla Capital to sell off insurance broking arm to Edme Services