Mumbai, Jun 30(UNI)Aditya Birla Capital (ABCL), formerly known as Aditya Birla Financial Services, is the holding company of the financial services businesses of the Aditya Birla Group. The company had entered into a composite scheme of arrangement (Scheme) with Aditya Birla Nuvo (ABNL) and Grasim Industries (Grasim), basis which the financial services undertaking of Grasim will be transferred to and vested in the Company by way of demerger effective from July 4. 2017, following which ABCL shall be listed after obtaining necessary approvals. ABCL has entered into a definitive Share Subscription Agreement (SSA) with PI Opportunities Fund - 1 (the Fund), an affiliate of Premji Invest, a leading Private Equity fund in India. As per the SSA, subject to the customary closing conditions, the Fund will subscribe to about 2.2 percent of the post Scheme fully diluted equity share capital of ABCL. The proposed transaction values ABCL at Rs 32,000 crore on a post money basis. This is in recognition of the quality and size of business created by ABCL, in just under a decade, and it's consistent and solid performance, as a significant financial services conglomerate in the non bank space. UNI JS NP1236