Birla plans $10-b financial services
THE Aditya Birla group wants to build a $10 billion integrated financial service business, spanning everything from stock broking and consumer finance to life and non-life insurance.
“We want to build a business that’s at least worth $10 billion for the group in this vertical,” said Ajay Srinivasan, chief executive for financial services and director for corporate strategy and business development at Aditya Birla Management Corporation, the group’s management company.
“The vertical could perhaps be more valuable than… Hindalco or Idea Cellular in market value over the next five years,” he said.
The group is ready to re-enter stock broking, which it exited a few years ago, and strengthen the existing consumer finance business. It will also make a debut in private equity and general insurance. It has drafted a Rs 2,000 crore plan for both organic growth and acquisitions.
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“We want to build a business that’s at least worth $10 billion for the group in this vertical,” said Ajay Srinivasan, chief executive for financial services and director for corporate strategy and business development at Aditya Birla Management Corporation, the group’s management company.
“The vertical could perhaps be more valuable than… Hindalco or Idea Cellular in market value over the next five years,” he said.
The group is ready to re-enter stock broking, which it exited a few years ago, and strengthen the existing consumer finance business. It will also make a debut in private equity and general insurance. It has drafted a Rs 2,000 crore plan for both organic growth and acquisitions.
To read the full article, click here...
To read the ePaper, visit: http://e.mydigitalfc.com/
Labels: $10 billion, 000 crore plan, Aditya Birla group, Ajay Srinivasan, business, Chief executive, financial markets, Rs 2, stock broking
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