Birlas invest Rs 1,450 cr more in unlisted private entity Essel Mining

Funds have been used to invest in Vodafone Idea rights issue

The Birlas have infused Rs 1,450 crore more in their unlisted private entity Essel Mining, which in turn, has made various strategic investments in different Aditya Birla group companies. The investments are in firms such as Vodafone Idea, Hindalco Industries, Grasim Industries, Aditya Birla Fashion and Retail.

The investments in Aditya Birla group entities have been made via IGH Holdings, a wholly-owned subsidiary of Essel Mining, which is holding shares in these companies.

According to a banking source, Essel Mining’s financial performance has improved in fiscal 2019 with the start of operations at Jilling mines in March last year. From a net