NEW DELHI: A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 655 crore for a 9.99% stake in Aditya Birla Health Insurance (ABHI), a joint venture of Aditya Birla Capital (ABCL) and Momentum Metropolitan Strategic Investments (MMH).
Once the transaction is completed, ADIA will own a 9.99% stake, ABCL will hold a 45.91% stake and MMH a 44.10% stake, respectively, in ABHI. “The Boards of Directors of Aditya Birla Capital and Aditya Birla Health Insurance approved a proposal for a primary capital infusion of nearly Rs 665 Crore in ABHI, from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA),” the company said in a statement. The transaction values ABHI at about Rs 6,650 crore. The company said the completion of the deal is subject to statutory and regulatory approvals.