Ajay Srinivasan, CEO of Aditya Birla Capital. Photo: Hindustan TimesMumbai: Aditya Birla Capital Ltd, which received a licence to set up an asset reconstruction company (ARC) in September, will name a management team for the new business soon, a top company executive said. “We have identified the core team, including the CEO for the new business, and will make an announcement within the coming weeks,” Ajay Srinivasan, CEO of Aditya Birla Capital, said in an interview. “Those plans are still intact and our focus in the distressed space will largely be in the mid-market space where we see a huge opportunity,” Srinivasan said, adding “the ARC will add to the wide array of offerings of Aditya Birla Capital. The company’s board also approved raising Rs3,500 crore by selling shares, global depository receipts, foreign currency convertible bonds, non-convertible debentures or any other financial instruments convertible into equity shares in one or more tranches, Aditya Birla Capital said in a stock exchange filing.

Source: Mint May 08, 2018 16:30 UTC