India South Africa city Abu Dhabi Department Health Citi India South Africa city Abu Dhabi

ADIA to invest ₹655 cr in Aditya Birla Health Insurance for 10% stake

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Aditya Birla Capital Ltd. and Aditya Birla Health Insurance Co. Ltd. (ABHI) on Friday approved a primary capital infusion of approximately ₹665 crore in ABHI for a 10% stake by a wholly-owned subsidiary of Abu Dhabi Investment Authority, as per a company statement.

The transaction values ABHI at approximately ₹6,650 crore. Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments (Pty) Ltd, a wholly-owned subsidiary of South Africa-based Momentum Metropolitan Holdings Ltd.

Completion is subject to receipt of statutory and regulatory approvals, including that of Insurance Regulatory and Development Authority of India.

Upon the completion of the transaction, ADIA will own a 9.99% stake, Aditya Birla Capital will hold 45.91% stake and Momentum Metropolitan Holdings will have a 44.10% stake Aditya Birla Health Insurance.

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