In September, ABCL announced that it has received approval from its board to raise primary equity capital of Rs 2,100 crore through a preferential allotment to certain marquee investors and the promoters.
Out of the total capital to be raised, Rs 1,000 crore will be garnered through an investment by an entity affiliated with Advent International, it added.
Of the remaining Rs 1,100 crore, Rs 1,000 crore will be raised by promoter entities and Rs 100 crore by an entity affiliated with Premji Invest.
"The funds raised will be utilised to fund the future growth of the company's businesses as well as to repay outstanding debt," ABCL had said.
ABCL has presence across diverse businesses, including non-banking financial sector, asset management, life insurance, housing finance, health insurance, among others, a press release by Competition Commission of India (CCI) noted.
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