After carving out its cement business, the $30-billion Aditya Birla Group in now looking at demerging its financial service businesses to unlock value.
The group is planning to hive off all financial service businesses that currently operate as subsidiaries of Adity Birla Nuvo. It will create a new holding company for financial services in a couple of months.
Ajay Srinivasan, CEO, Aditya Birla Financial Services confirmed the development.
According to Srinivasan, all the financial services businesses of the group have done very well and the holding company would be valued at over Rs 15,000 crore.
The company is currently busy in seeking permission from different regulators.
The group has companies like Birla Sun Life Insurnace, Birla Sun Life Mutual Fund, Aditya Birla Capital Advisors Private Limited and Birla Global Finance.