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Aditya Birla Capital to launch ARC business this quarter

News Summed Up 2018-02-11 05:30:00

Photo: Hindustan TimesMumbai: Aditya Birla Capital Ltd (ABCL), the financial services business of the $50 billion Aditya Birla Group, will begin investing in its asset reconstruction company (ARC) and start business this quarter, a top company executive said. We will put the regulatory capital and start that business,” Ajay Srinivasan, chief executive officer of Aditya Birla Capital said in an interview. ABCL’s asset reconstruction business is housed under its subsidiary Aditya Birla ARC Ltd.“That business will then require an AIF (alternative investment fund) and we will probably also have a fund attached to it. That’s how typically a stressed assets business works. The group’s stressed assets business will focus on turnaround situations, he said.