Shares of Aditya Birla Capital (ABCL), the financial services company of Aditya Birla Group, got listed on the bourses on Friday and later fell by 5 per cent to hit its lowest trading permissible limit for the day. At BSE, shares of the company debuted at Rs. 261.20. There is strong selling pressure seen in the stock, with 45,55,532 shares on the sell side while zero on the buy side.
Aditya Birla Capital is the demerged company from Grasim which holds controlling stake in financial services businesses of the group. Kumar Mangalam Birla, rang the opening bell to signal the listing of ABCL. The demerger and listing of financial services business under one umbrella was part of the group restructuring exercise and was aimed at unlocking value for shareholders. At the current stock price, Aditya Birla Capital -which is a subsidiary of Grasim Industries -has a market capitalisation of about Rs 54,600 crore.