Business EconomyPosted at: Aug 12 2022 1:09PM

ADIA to invest in Aditya Birla Health Insurance

Mumbai, Aug 12 (UNI) The Boards of Directors of Aditya Birla Capital Ltd (ABCL) and Aditya Birla Health Insurance Co Ltd (ABHI) approved a proposal for a primary capital infusion of Rs. 665 crore in ABHI, from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital Ltd and Momentum Metropolitan Strategic Investments (Pty) Ltd, a wholly owned subsidiary of South Africa-based Momentum Metropolitan Holdings Ltd.
The transaction values ABHI at Rs 6,650 crores. Completion is subject to receipt of statutory and regulatory approvals, including the approval of the Insurance Regulatory and Development Authority of India (IRDAI).
Upon the completion of the transaction, ADIA will own a 9.99 per cent stake, ABCL will hold a 45.91 per cent stake and MMH a 44.10 per cent stake respectively in ABHI.
ABHI plans to use this capital to drive its growth in the health insurance market in India. With its differentiated Health-First model, ABHI is the fastest growing health insurance company in the health insurance space in India.
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Tags: #ADIA to invest in Aditya Birla Health Insurance

AP Mahesh Co-op Urban Bank reports profit before tax of Rs 22 65 cr for FY 2022-23

30 Sep 2023 | 6:14 PM

Hyderabad, Sep 30 (UNI) Andhra Pradesh Mahesh Co-operative Urban Bank Limited, a Multi-State Scheduled Bank operating across four states, namely Telangana, AP, Rajasthan, and Maharashtra, has reported a profit (before tax) of Rs 22.65 crore and a profit after tax of Rs 17.32 crores for the fiscal 2022-23.

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SRINAGAR, SEP 30 (UNI):- Army displaying the recovery which they have seized from the infiltrators who were killed during an infiltration bid in Machil sector of Kupwara district on Saturday. UNI PHOTO-125U

BHOPAL, SEP 30 (UNI):- Madhya Pradesh Chief Minister Shivraj Singh Chouhan looking at the multi aircraft fly past organized at Bhoj Tal in Bhopal to commemorate the 91st Foundation Day of the Air Force in Bhopal on Saturday.UNI PHOTO-124U

BHOPAL, SEP 30 (UNI):- Madhya Pradesh Governor Mangubhai Patel looking at the multi-aircraft flypast organized at Bhoj Tal in Bhopal on the occasion of the 91st Foundation Day of the Air Force in Bhopal on Saturday.UNI PHOTO-123U

BHOPAL, SEP 30 (UNI):- Madhya Pradesh Chief Minister Shivraj Singh Chouhan looking at the multi aircraft fly past organized at Bhoj Tal in Bhopal to commemorate the 91st Foundation Day of the Air Force in Bhopal on Saturday.UNI PHOTO-122U

BHOPAL, SEP 30 (UNI):- Madhya Pradesh Chief Minister Shivraj Singh Chouhan traveling with public representatives in the Metro trial run in Indore on Saturday. UNI PHOTO-121U

BHOPAL, SEP 30 (UNI):- Madhya Pradesh Chief Minister Shivraj Singh Chouhan flagging off the metro trial run in Indore on Saturday. UNI PHOTO-120U

REASI, SEP 30 (UNI):- Jammu and Kashmir Chief Secretary Dr Arun Kumar Mehta flanked by other officers at World's highest Rail Bridge in Reasi district on Saturday. UNI PHOTO-119U

CHENNAI, SEP 30 (UNI):- Tamil Nadu Governor R N Ravi placed wreath and paying homage to Agricultural Scientist and Father of Green Revolution late Dr. MS Swaminathan, at MS Swaminathan Research Foundation, Tharamani, Chennai on Saturday. UNI PHOTO-117U

SHAJAPUR, SEP 30 (UNI):- Congress leader Rahul Gandhi addresses during a public meeting, in Shajapur district, Madhya Pradesh on Saturday UNI PHOTO-89U

SHAJAPUR, SEP 30 (UNI):- Congress leader Rahul Gandhi addresses during a public meeting, in Shajapur district, Madhya Pradesh on Saturday UNI PHOTO-88U

GANDHINAGAR, SEP 30 (UNI):- Union Minister for Home Affairs and Cooperation Amit Shah in a group photograph at the inauguration of the permanent campus of National Institute of Pharmaceutical Education and Research (NIPER) at Gandhinagar, in Gujaraton Saturday. UNI PHOTO-116U

GANDHINAGAR, SEP 30 (UNI):- Union Minister for Home Affairs and Cooperation Amit Shah addressing at the inauguration of the permanent campus of National Institute of Pharmaceutical Education and Research (NIPER) at Gandhinagar, in Gujaraton Saturday. UNI PHOTO-116U

GANDHINAGAR, SEP 30 (UNI):- Union Minister for Home Affairs and Cooperation, Shri Amit Shah inaugurates the permanent campus of National Institute of Pharmaceutical Education and Research (NIPER) at Gandhinagar, in Gujarat on Saturday. UNI PHOTO-114U

AHMEDABAD, SEP 30 (UNI):- Union Minister for Home Affairs and Cooperation Amit Shah inaugurates various development projects of AMC and AUDA at Ahmedabad, in Gujaraton Saturday. UNI PHOTO-113U

AHMEDABAD, SEP 30 (UNI):- Union Minister for Home Affairs and Cooperation Amit Shah inaugurates various development projects of AMC and AUDA at Ahmedabad, in Gujarat on Saturday. UNI PHOTO-112U

BHOPAL, SEP 30 (UNI):- A Su-30 MKI refueling an LCA Tejas fighter in Bhopal on Saturday. UNI PHOTO-111U

BHOPAL, SEP 30 (UNI):- Glimpse of Akash Ganga Skydiving Team of the IAF in Bhopal on Saturday. UNI PHOTO-109U

BHOPAL, SEP 30 (UNI):- IAF Jaguar fighters in action over Bhojtal lake at Bhopal, in Madhya Pradesh on Saturday. UNI PHOTO-108U