MUMBAI, October 1, 2008: The right offer to the company's GDR holders is subscribed to the extent of 99.30%.
The GDR entitlement was to the tune of 56.42 million shares, against which the subscriptions came in for 56.03 million shares.
• India's largest rights issue by Kumar Mangalam Birla promoted Hindalco is all set to sail through with the merchant bankers and FIs committing to subscribe.
• Market sources say the merchant bankers have committed to pick up 40% while FIs – LIC and GIC – agreed to pick up 15%. The promoters have already decided to buy 50% of the rights issue shares.
• Hindalco has come out with 525,802,403 equity hares with a face value of Re 1 each at a premium of Rs 95 per equity share.
• The issue size works out to Rs 5047.7 crores.
• Issue opened on September 22 and will close on October 10.
• The lead managers to the issue are: ABM AMRO Securities (India) Private Ltd, Citigroup Global Markets India Private Ltd, Deutsche Equities India Private Ltd, DSP Merrill Lynch, and SBI Capital Markets Ltd.
• Heavy demand of the Renunciation of the Rights – volume in excess of 14 million as of yesterday
Showing posts with label Birla. Show all posts
Showing posts with label Birla. Show all posts
Wednesday, 1 October 2008
Thursday, 21 August 2008
Birla Fin ropes in COO from HDFC Bank
MUMBAI: Continuing its key hirings, the one-billion-dollar Aditya Birla Financial Services Group (ABFSG), has appointed Mr G.V. Gopalakrishnan as its Chief Operating Officer.
At ABFSG he will oversee the operations and the technology functions for and across the Financial Service Businesses.
Mr Gopalakrishnan’s appointment is part of the ‘People First’ strategy adopted by the ABFSG, to attract key leadership, to partner its vision for growth.
Mr Ajay Srinivasan, Chief Executive, Financial Services, Aditya Birla Group, said: “We would like to believe that our journey has just begun. Our vision is to be a role-model across our businesses. And our customer’s preferred choice. Right now we are concentrating on building a firm foundation, with the help of our strong and committed team.”
Welcoming Mr Gopalakrishnan aboard, Mr Srinivasan, said: “We are very happy to have Mr. Gopalakrishnan join our leadership team. He comes with rich experience that will help us prepare a strong foundation in operations and technology, across our financial businesses, commensurate with our vision.”
Mr Gopalakrishnan said: “I am excited with the opportunity to partner Team ABFSG in their vision to become a financial conglomerate.”
Mr Gopalakrishnan was till recently the Executive Vice President- Information Technology at HDFC Bank. His experience at HDFC Bank was diverse across retail technology, retail assets, credit cards, corporate internet banking, wholesale, capital markets, and various strategic initiatives.
Mr Gopalakrishnan has a proven track record in technology with about 26 years of experience. He has spent 15 years with the Banking sector, including eight years with HDFC Bank.
Prior to HDFC Bank, Mr Gopalakrishnan was Regional Head of Information Systems, for the Middle East and South Asia in Standard Chartered Bank where he spearheaded the banking applications across the bank’s various businesses in MESA countries - UAE, Bahrain, Qatar, Oman, Sri Lanka, Pakistan and Bangladesh.
Mr Gopalakrishnan is a commerce graduate with a post graduation in management from Anna Institute of Management, Chennai.
About Aditya Birla Financial Services Group:
The Aditya Birla Group has a strong presence across various financial verticals that include life insurance, asset management, distribution and wealth management, security based lending, insurance broking & advisory services and private equity. The companies that comprise the Aditya Birla Financial Services Group (ABFSG) are: Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Birla Sun Life Distribution Company, Birla Global Finance Company, Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors. The consolidated revenues from these businesses crossed the one billion dollar mark, in 2007-08.
About Aditya Birla Group
The Aditya Birla Group (www.adityabirla.com) is a US $24 billion conglomerate with a market capitalization of US $31.5 billion (as on 31st December 2007) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 20 countries across six continents and is reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 50 per cent of the Group's revenues flow from our overseas operations. The Group nurtures a work culture where success is built on learning and innovation. The Aditya Birla Group has been adjudged "The Best Employer in India and among the top 20 in Asia" by the Hewitt, Economic Times and Wall Street Journal Study 2007.
At ABFSG he will oversee the operations and the technology functions for and across the Financial Service Businesses.
Mr Gopalakrishnan’s appointment is part of the ‘People First’ strategy adopted by the ABFSG, to attract key leadership, to partner its vision for growth.
Mr Ajay Srinivasan, Chief Executive, Financial Services, Aditya Birla Group, said: “We would like to believe that our journey has just begun. Our vision is to be a role-model across our businesses. And our customer’s preferred choice. Right now we are concentrating on building a firm foundation, with the help of our strong and committed team.”
Welcoming Mr Gopalakrishnan aboard, Mr Srinivasan, said: “We are very happy to have Mr. Gopalakrishnan join our leadership team. He comes with rich experience that will help us prepare a strong foundation in operations and technology, across our financial businesses, commensurate with our vision.”
Mr Gopalakrishnan said: “I am excited with the opportunity to partner Team ABFSG in their vision to become a financial conglomerate.”
Mr Gopalakrishnan was till recently the Executive Vice President- Information Technology at HDFC Bank. His experience at HDFC Bank was diverse across retail technology, retail assets, credit cards, corporate internet banking, wholesale, capital markets, and various strategic initiatives.
Mr Gopalakrishnan has a proven track record in technology with about 26 years of experience. He has spent 15 years with the Banking sector, including eight years with HDFC Bank.
Prior to HDFC Bank, Mr Gopalakrishnan was Regional Head of Information Systems, for the Middle East and South Asia in Standard Chartered Bank where he spearheaded the banking applications across the bank’s various businesses in MESA countries - UAE, Bahrain, Qatar, Oman, Sri Lanka, Pakistan and Bangladesh.
Mr Gopalakrishnan is a commerce graduate with a post graduation in management from Anna Institute of Management, Chennai.
About Aditya Birla Financial Services Group:
The Aditya Birla Group has a strong presence across various financial verticals that include life insurance, asset management, distribution and wealth management, security based lending, insurance broking & advisory services and private equity. The companies that comprise the Aditya Birla Financial Services Group (ABFSG) are: Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Birla Sun Life Distribution Company, Birla Global Finance Company, Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors. The consolidated revenues from these businesses crossed the one billion dollar mark, in 2007-08.
About Aditya Birla Group
The Aditya Birla Group (www.adityabirla.com) is a US $24 billion conglomerate with a market capitalization of US $31.5 billion (as on 31st December 2007) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 20 countries across six continents and is reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 50 per cent of the Group's revenues flow from our overseas operations. The Group nurtures a work culture where success is built on learning and innovation. The Aditya Birla Group has been adjudged "The Best Employer in India and among the top 20 in Asia" by the Hewitt, Economic Times and Wall Street Journal Study 2007.
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