The financial services arm of the Aditya Birla Group is reportedly putting into motion a plan to create a full -fledged subsidiary totally involved in the financial services business. As of now the financial services businesses of the group have to function alongside the other varied and non-related businesses like Apparel, Telecom and even agricultural products.
The plan, it is reported, envisages the creation of a company called Aditya Birla Capital which will be focusing on the financial services business and list on the stock exchanges as an Independent company. This would help in creating more value for investors as the Financial Services sector is expected to give lot of value in the coming years.
It is expected that the mutual funds business (Birla Sun Life Asset Management), the life insurance business (Birla Sun Life Insurance), the stock broking business (recently acquired Apollo Sindhoori). Reports also suggest that once the plan is complete, the new company will hold all of the Aditya Birla group’s interests in the financial services.