Aditya Birla Capital Advisors announces First Closing and the first investment of Aditya Birla Private Equity - Sunrise Fund

6th September, 2011

Commitments of over Rs.220 crores in its second fund

Mumbai: Aditya Birla Capital Advisors (ABCAP), the private equity arm of the Aditya Birla Financial Services Group (ABFSG), announced the First Closing of the Aditya Birla Private Equity - Sunrise Fund, on August 30, 2011.

The second fund from Aditya Birla Private Equity has been very well received by domestic investors and has commitments of over Rs.220 crores, despite a volatile market environment. In view of continued strong patronage of investors, the Fund will continue to accept applications in a short window for a limited period and would announce its Final Closing shortly.

Commenting on the occasion, Mr. Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group, said, "Private equity plays an important role in delivering the commitment of the Aditya Birla Financial Services Group to meet all the needs of our target customers. The mobilisation of over Rs.220 crores in our second fund is another strong stride towards fulfilling our ambitious plans in private equity space. The First Closing in Sunrise Fund takes our cumulative funds under management / advise to Rs.1,100 crores. It demonstrates the strong trust our investors have continuously reposed in us over the last three years."

As a demonstration of the Group's commitment to the business, the Aditya Birla Group has also made a significant contribution to the fund corpus.

Aditya Birla Private Equity - Sunrise Fund is a domestic Fund, uniquely focused on providing growth capital to proven businesses / concepts within sectors that are in early stage of exponential growth. The Fund has a mandate to invest in potential winners within innovation driven sunrise sectors based on specific themes including lifestyle, lifeskills and education, lifecare and applied technologies. The Fund looks for minority stakes while investing primarily in unlisted, exponential-growth, India-centric businesses in sunrise sectors with a potential to play the role of an active investor.

The Sunrise Fund is also pleased to announce its first investment of upto Rs.40 crores in New Delhi-based SMS Paryavaran Limited, one of India's leading companies in the water and wastewater treatment sector. The investment will be for a substantial minority stake with standard private equity rights. We believe, SMS Paryavaran is a play on using applied technologies for integrated and standalone water treatment and wastewater treatment plants, for municipal and industrial customers. The company will use the proceeds to fund its aggressive growth plans in the backdrop of significant order flow.

About Aditya Birla Capital Advisors
Aditya Birla Capital Advisors Private Limited (ABCAP) offers asset management and advisory services in private equity, to domestic and global investors. The company has adopted a unique investment style of partnering with its portfolio companies by providing strategic and operational intervention and has its focus on growth investments in mid-market companies, with India as the investment destination.

In addition to the second fund currently being raised, ABCAP currently manages Rs.880 crores in its maiden fund, Aditya Birla Private Equity - Fund I, which seeks to generate returns for its investors by investing in and harvesting business growth opportunities created by the strong economic prospects of the Indian economy. Fund I is a growth capital focused fund and will have an active investment approach. It proposes to target substantial minority stakes, while investing primarily in unlisted, mid-cap, high-growth, India-centric companies, and is sector-agnostic. Fund I has invested in GEI Industrial Systems, Credit Analysis and Research Limited (CARE) and Anupam Industries Limited.

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About Aditya Birla Financial Services Group (ABFSG)
Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz., life insurance, asset management, NBFC, private equity, broking, wealth management and distribution and general insurance advisory services.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its seven lines of businesses, with about 5.5 million customers manages assets worth Rs.92,259 crores (US$20.5 billion) and prides itself for having a talent pool of about 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1,700 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything under financial services except a savings or current account. With over Rs.6,296 crores (FY2010-11) in revenues, ABFSG is a significant non-bank player.

ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a US$4 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$35 billion Indian business house operating in 33 countries across the globe.