ABCL listing vindicates our stand to create shareholder value, says mgmt

Within hours of listing its financial services business, Aditya Birla Capital (ABCL), on the BSE, Aditya Birla Group Chairman Kumar Mangalam Birla said the group’s philosophy of creating value for its shareholders stood vindicated with Friday’s “blockbuster” listing. The combined market value of Grasim and ABCL crossed Rs 1.31 lakh crore on Friday, compared to Rs 62,759 crore of the market values of Grasim and Aditya Birla Nuvo on the date of the announcement of the merger of the two companies — August 11 last year. In an interview with Dev Chatterjee, Birla and ABCL Chief Executive Officer Ajay Srinivasan