ABCAPITAL

By Bharath Rajeswaran

Feb 11 (Reuters) - Global index provider MSCI added financial services firms Aditya Birla Capital ADTB.NS and L&T Finance LTFL.NS to its widely tracked Global Standard Index, while removing state-run Indian Railway Catering and Tourism Corporation (IRCTC) in a periodic reshuffle.

The changes, disclosed on Wednesday, will take effect on February 27.

MSCI indexes serve as globally recognised benchmarks tracked by large passive funds, implying that inclusions typically attract fresh capital inflows, while removals usually entail outflows.

Following the rejig, the number of Indian companies in the MSCI Global Standard Index will rise to 165 from 164. However, India's overall weight in the index will remain steady at 14.1%, according to Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.

Nuvama estimates that Aditya Birla Capital and L&T Finance could see passive inflows of approximately $257 million and $238 million, respectively. In contrast, IRCTC is expected to face outflows of about $141.6 million.

AU Small Finance Bank AUFI.NS, a retail-focused lender, is likely to receive around $172 million in inflows due to an increase in its index weight, according to Nuvama.

MSCI also made significant changes to its Small Cap Index, reducing the number of Indian constituents to 480 from 508. India's small-cap index .NIFSMCP100 has declined 7% since the start of 2025, underperforming broader benchmarks.

The reshuffle comes amid continued pressure on India's small-cap stocks, where concerns over stretched valuations and earnings sustainability have weighed on sentiment.

While L&T Finance graduated from the Small Cap Index to the Global Standard Index, 34 companies including Dilip Buildcon DIBL.NS, Zaggle Prepaid ZAGG.NS, Sterlite Technologies STTE.NS, and KNR Constructions KNRL.NS were removed.

On the other hand, seven Indian firms, including renewable energy player Premier Energies PEME.NS, depository services provider National Securities Depository NATS.BO, pharmaceutical company Emcure Pharma EMCU.NS and cement manufacturer JSW Cement JSWC.NS were added to the Small Cap Index.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Ronojoy Mazumdar)

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Removes extraneous word "company" in paragraph 1

Feb 3 (Reuters) - Private equity firm Advent International will buy a 14.3% stake in India's Aditya Birla Housing Finance for 27.5 billion rupees ($304.1 million), the latter's parent said on Tuesday.

The deal values the mortgage lender at 192.50 billion rupees, parent Aditya Birla Capital ADTB.NS said in a press release. On completion of the deal, Aditya Birla Capital would be left with an 85.7% stake in the mortgage lender.

The Advent deal is the latest in a string involving foreign investments in India's financial sector. Japan's MUFG said last year it would buy 20% of non-bank lender Shriram Finance SHMF.NS for $4.4 billion and Emirates NBD Bank struck a $3 billion deal for 60% in private lender RBL Bank RATB.NS.

Aditya Birla Housing Finance had assets under management of 422.04 billion rupees as of December-end.

Advent was an investor in Aditya Birla Capital from 2020 until 2025.

($1 = 90.4420 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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Dec 29 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• INVESTS 400 MILLION RUPEES ON RIGHTS BASIS IN ADITYA BIRLA CAPITAL DIGITAL

Source text: ID:nBSE4tJwqQ

Further company coverage: ADTB.NS

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Updates Oct 28 story with Advent comments in paragraphs 3-4, floor price in paragraph 5

Oct 29 (Reuters) - U.S.-based private equity investor Advent International's affiliate Jomei Investments has exited its entire 2% equity stake in India's Aditya Birla Capital ADTB.NS, exchange data showed on Tuesday.

Jomei sold 53.2 million shares in the Indian financial services firm for 308 rupees per share, valuing the sale at 16.39 billion rupees ($186.47 million), according to Reuters calculations.

Advent, which first invested in Aditya Birla Capital in 2020, said its affiliate sold its remaining stake in Aditya Birla Capital, marking a full exit of its investment.

During Advent's investment period, Aditya Birla Capital strengthened its position as a leading diversified financial-services group, it said.

The floor price is at a discount of 0.9% to Aditya Birla's Monday close of 310.75 rupees. The block deals took place during market hours on Tuesday, with the price at a 1.5% discount to Tuesday's close.

($1 = 87.8950 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri and Sonia Cheema)

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MUMBAI, Sept 22 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 20 billion rupees ($226.96 million) through sale of multiple maturity bonds, three bankers said on Thursday.

The company will raise 5 billion rupees each through two-year and six-month bonds at a coupon, which is 146 basis points above three-month overnight index swaps and five-year bonds at a coupon of 7.52%.

The company is also targeting 5 billion rupees each through reissue of 7.3789% February 2028 bonds and 7.2959% September 2028 bond.

Aditya Birla Capital did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 22:

* Size includes base plus greenshoe for some issues

($1 = 88.1200 Indian rupees)

(Reporting by Dharamraj Dhutia)

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MUMBAI, Sept 11 (Reuters) - India's Aditya Birla Capital ADTB.NS accepted 40 billion rupees ($452.40 million) for bonds maturing in 9 years, 11 months and 27 days, three bankers said on Thursday.

It will pay a coupon of 7.61% and had invited commitment bids for the issue earlier in the day, the bankers said.

Aditya Birla Capital did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 11:

*Size includes base plus greenshoe for some issues

($1 = 88.4180 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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MUMBAI, Sept 5 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise at least 40 billion rupees ($453.2 million), including a greenshoe option of 20 billion rupees, through the sale of bonds maturing in 9 years, 11 months and 27 days, three bankers said on Friday.

It has invited coupon and commitment bids for the issue on Tuesday, the bankers said.

Aditya Birla Capital did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 5:

*Size includes base plus greenshoe for some issues

($1 = 88.2700 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Eileen Soreng)

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Sept 1 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL LTD - APPOINTS VISHAKHA MULYE AS MD AND CEO

Source text: ID:nNSE8GVGyd

Further company coverage: ADTB.NS

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MUMBAI, Aug 28 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 5 billion rupees, including a greenshoe option of 4 billion rupees, through the sale of zero coupon bonds maturing in three years, eight months and 27 days, two bankers said on Thursday.

It has invited commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 28:

* Size includes base plus greenshoe for some issues

($1 = 87.5060 Indian rupees)

(Reporting by Khushi Malhotra, Dharamraj Dhutia)

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Aug 26 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• RBI GRANTS IN-PRINCIPLE AUTHORIZATION TO UNIT AS ONLINE PAYMENT AGGREGATOR

Source text: ID:nNSE3vsCR4

Further company coverage: ADTB.NS

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MUMBAI, Aug 6 (Reuters) - India's Aditya Birla Capital ADTB.NS accepted bids worth 4.1 billion rupees ($46.8 million) for the reissue of 8.03% May 2035 bonds, two bankers said on Wednesday.

It will pay a coupon of 8.02% and had invited commitment bids for the issue earlier in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 6:

*Size includes base plus greenshoe for some issues

($1 = 87.6700 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Sonia Cheema)

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MUMBAI, Aug 5 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth 15 billion rupees ($171.6 million) for reissue of November 2027 bonds, three bankers said on Tuesday.

It will offer a yield of 7.85% to the investors of this issue and had invited bids earlier in the day, they said.

The company declined to comments on the matter.

Here is the list of deals reported so far on August 5:

*Size includes base plus greenshoe for some issues.

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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** Shares of Aditya Birla Capital ADTB.NS rise 11.5% to 280.35 rupees

** Co's Q1 consol net profit rises 10% Y/Y to 8.35 bln rupees ($95.3 mln)

** Q1 consol total revenue rose 9.6% Y/Y to 95.03 bln rupees

** Trading vols at 27 mln shares, over 5x the 30-day average

** ADTB up ~58% YTD

($1 = 87.5890 Indian rupees)

(Reporting by Vijay Malkar)

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MUMBAI, July 30 (Reuters) - India's Aditya Birla Capital ADTB.NS has accepted bids worth 13 billion Indian rupees ($148.68 million) for bonds maturing in three years and two months and in five years, three bankers said on Wednesday.

The company will pay a coupon of 7.2959% on the over three-year issue and 7.4242% on the five-year bonds, and had invited bids for the issues earlier in the day, they said.

Aditya Birla Capital did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 30:

*Size includes base plus greenshoe for some issues

($1 = 87.4390 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Vijay Kishore)

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MUMBAI, July 29 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 13 billion rupees ($149.86 million), including 6.50 billion rupees of a greenshoe option, through the sale of bonds maturing in three years and two months and in five years, three bankers said on Tuesday.

The company has invited coupon and commitment bids for the issues on Wednesday, they said.

Aditya Birla Capital did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 29:

*Size includes base plus greenshoe for some issues

($1 = 86.7460 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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MUMBAI, July 21 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 5 billion rupees ($58.1 million) through the sale of bonds maturing in 10 years, three bankers said on Monday.

The company has invited coupon and commitment bids for the issue on Tuesday, they said.

Aditya Birla Capital did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 21:

*Size includes base plus greenshoe for some issues

($1 = 86.1310 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)

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MUMBAI, July 9 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 10 billion rupees ($116.6 million) through the reissue of 7.9413% August 2028 bonds, three bankers said on Wednesday.

The company has invited commitment bids for the issue on Thursday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 9:

*Size includes base plus greenshoe for some issues

($1 = 85.7680 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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MUMBAI, May 23 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 35 billion rupees ($407.1 million), which includes 24 billion rupees of a greenshoe option, through the sale of multiple tenor bonds, three bankers said on Friday.

The company will sell bonds maturing in two years and nine months, and in four years and six months. It will reissue 7.97% December 2027 bonds and 8.02% February 2030 bonds, and has invited commitment bids for all the options later in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 23:

*Size includes base plus greenshoe for some issues

($1 = 85.9850 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

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May 2 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL LTD - BOARD TO CONSIDER RAISING FUNDS VIA DEBT SECURITIES

Source text: ID:nBSE3rBr2n

Further company coverage: ADTB.NS

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MUMBAI, April 29 (Reuters) - India's Aditya Birla Capital ADTB.NS plans to raise 10 billion rupees ($117.4 million), including a greenshoe option of 7.50 billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Tuesday.

It has invited coupon and commitment bids for the issue on Monday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 29:

*Size includes base plus greenshoe for some issues

($1 = 85.2080 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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April 22 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• IRDAI GRANTED CERTIFICATE OF REGISTRATION TO ACT AS CORPORATE AGENT

Source text: ID:nNSEbq4bdw

Further company coverage: ADTB.NS

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March 26 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL - TO CONSIDER FUND RAISING

Source text: [ID:]

Further company coverage: ADTB.NS

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March 25 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL - INVESTS 400 MILLION RUPEES IN ABCDL

Source text: ID:nNSEbc0DwY

Further company coverage: ADTB.NS

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** Shares of Aditya Birla Capital ADTB.NS gain 3.33% to 176.47 rupees apiece

** Rise after Jefferies reiterates "buy" on the financial services firm and a target price of 248 rupees, implying a 49% upside

** ADTB's valuations appear attractive after the 31% drop from the recent peak due to loan growth moderation and margin pressure, says Jefferies

** Says stress in unsecured loans has peaked and expects loan growth to stabilise in fiscal year 2026, aiding margins

** Macquarie says ADTB is one of its top picks and is on course to double in three years; has "outperform" rating with 260 rupees target, implying 56% upside

** Average rating of nine analysts tracking ADTB is "strong buy"; median price target at 248 rupees, according to data compiled by LSEG

** Shares are down 0.6% YTD vs 11% drop in midcaps .NIFMDCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

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March 10 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL - INVESTMENT OF 3 BILLION RUPEES IN SHARES OF ADITYA BIRLA HOUSING FINANCE

• ADITYA BIRLA CAPITAL - INVESTMENT ON RIGHTS BASIS, IN THE SHARES OF ADITYA BIRLA HOUSING FINANCE

Source text: [ID:]

Further company coverage: ADTB.NS

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Corrects to Thursday from Wednesday in first paragraph

Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.

Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.

The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.

Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.

"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.

On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.

Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.

In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.

The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.

Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.

Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.

However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.

"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

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Feb 4 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL LTD - TAX DEMAND REVISED TO 1.84 BILLION RUPEES AFTER RECTIFICATION ORDER

Source text: ID:nNSEbswbXR

Further company coverage: ADTB.NS

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Feb 3 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL DEC-QUARTER CONSOL NET PROFIT 7.08 BILLION RUPEES

• ADITYA BIRLA CAPITAL DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 93.81 BILLION RUPEES

Source text: ID:nNSEgppSH

Further company coverage: ADTB.NS

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Feb 1 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ASSESSING OFFICER STAYS OUTSTANDING TAX DEMAND OF 5.35 BILLION RUPEES OF UNIT

Further company coverage: ADTB.NS

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** Aditya Birla Capital ADTB.NS rises 3% to 172 rupees, PB Fintech PBFI.NS down 6.7% to 1,736 rupees

** Morgan Stanley downgrades PBFI to 'underweight' and upgrades ADTB to 'overweight'; PTs unchanged

** ADTB offers deep value after a 3-month correction, strong funding access, and good asset quality - MS

** Says, ADTB's low valuation seen as a safe entry point for investors

** Brokerage sees investor optimism for PBFI cooling as revenue growth slows; profit emergence weaker than expected

** Its core premium growth to moderate in FY26 after an estimated ~50% growth in FY25, leading to derating - MS

** Analysts' avg rating is "strong buy" for ADTB and "hold" for PBFI - data compiled by LSEG

** PBFI rose ~165% in 2024; ADTB gained ~6.9%

(Reporting by Yagnoseni Das in Bengaluru)

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