Aditya Birla Capital Limited has scheduled an Extra-Ordinary General Meeting (EoGM) on June 12, 2026, to seek shareholder approval for the issuance of equity shares on a preferential basis. The company aims to raise an aggregate amount not exceeding ₹4,000 crore through this allotment to three identified investors. The equity shares will be issued at a price of ₹356.02 per share, including a premium of ₹346.02 per share.

Fund-Raising Details

The board has approved the issuance of 11,23,53,236 fully paid-up equity shares to the following allottees. The breakdown of the proposed allotment is as follows:

Grasim Industries, the promoter, will see its stake increase to 53.08% post-allotment. The International Finance Corporation (IFC) will enter as a shareholder with a 0.95% stake.

Utilization of Proceeds

The company intends to utilize the net proceeds from the preferential issue for specific objectives. Not exceeding 87.5% of the proceeds, estimated at ₹3,500 crore, will be used for meeting growth objectives, including augmentation of the capital base and funding requirements for its lending business. The remaining 12.5%, estimated at ₹500 crore, will be allocated for General Corporate Purposes. The proceeds are to be utilized within two years from the date of receipt.

EoGM and Voting Details

The EoGM will be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) on June 12, 2026, at 11:00 a.m. The remote e-voting period commences at 9:00 a.m. on June 9, 2026, and ends at 5:00 p.m. on June 11, 2026. The results of the voting will be announced on or before June 16, 2026. KFin Technologies Limited has been appointed as the Registrar and Transfer Agent to facilitate the e-voting process.

Analyst View

Morgan Stanley has maintained an Overweight rating on the stock with a target price of ₹408. The brokerage views the ₹4,000 crore preferential equity raise as a key positive, citing limited dilution for existing shareholders and an increase in the promoter's stake. The firm expects the transaction to boost free funds and positively impact the company's FY27 profit after tax (PAT).

Aditya Birla Capital Limited has disclosed, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received an income tax notice dated 15 May 2026 under Section 143(1) of the Income Tax Act, 1961. The notice was issued by the Centralised Processing Centre (CPC), Income Tax Department, and pertains to Assessment Year 2025-26 (Financial Year 2024-25), resulting in a tax demand of Rs. 194.54 crore.

Background: ABFL Amalgamation

The tax demand is directly linked to the amalgamation of Aditya Birla Finance Limited (ABFL), a wholly owned subsidiary of the Company, with Aditya Birla Capital Limited. Pursuant to the order of the Hon'ble National Company Law Tribunal (NCLT) dated 24 March 2025, ABFL was amalgamated with the Company with effect from 1 April 2025, with an appointed date of 1 April 2024. Following the amalgamation, the Company filed a consolidated return of income for FY 2024-25 (AY 2025-26) under its own PAN on 10 December 2025, with a revised return filed on 31 December 2025, offering to tax the combined income of ABFL and the Company.

Details of the Tax Demand

The Company had claimed credit for Advance Tax of Rs. 222 crore paid by ABFL and Tax Deducted at Source (TDS) of Rs. 816 crores deposited or deducted under ABFL's PAN, in line with the amalgamation. However, the CPC did not grant the advance tax credits relating to ABFL, resulting in the income tax demand of Rs. 194.54 crore. The key details of the notice are summarised below:

Company's Position and Next Steps

Aditya Birla Capital has stated that the demand has arisen solely on account of technical reasons pertaining to the non-migration of tax credits from ABFL's PAN to the Company's PAN consequent to the amalgamation, even though the corresponding income has already been offered to tax by the Company. The Company has confirmed that this demand does not represent any short payment of tax. It has further indicated that a necessary application will be filed with the Income-tax Department for rectification and appropriate credit of taxes already paid. The Company does not foresee any material impact on its financial, operational, or other activities as a result of this demand.