₹665 crore in the health insurer by Abu Dhabi Investment Authority (ADIA). The transaction valued Aditya Birla Health Insurance at around ₹6,650 crore, according to a company statement.
Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments (Pty) Ltd, a unit of South Africa’s Momentum Metropolitan Holdings Ltd.
The deal is subject to statutory and regulatory approvals, including from the Insurance Regulatory and Development Authority of India.
On completion, ADIA will own a 9.99% stake, Aditya Birla Capital will hold 45.91%, and Momentum Metropolitan Holdings will hold 44.1%.