Financial services provider, Aditya Birla Financial Services today said it has proposed to pick up 75 per cent stake in Aditya Birla Money through an off market transaction.
The company would acquire 4.15 crore shares of Aditya Birla Money at Rs 59.76 per share by inter-se transfer totalling to Rs 248.26 crore.
The company proposed to acquire 4.15 crore shares or 75 per cent stake in the broking firm through off market transaction on February 20, Aditya Birla Financial Services said in a filing to the Bombay Stock Exchange.
Shares of Aditya Birla Money reacted positively to surge nearly five per cent on the BSE to hit upper limit at Rs 51.55 over previous close.
