Birla Global Finance is now Aditya Birla Finance

4th February, 2010

Mumbai: Birla Global Finance, the NBFC arm of the Aditya Birla Financial Services Group, has been renamed as Aditya Birla Finance. This change in name not only reflects the ownership and commitment of the Aditya Birla Group, but also perfectly reflects the nature of its business of providing financing solutions like loan against securities, working capital support, channel / vendor finance and so on.

Aditya Birla Finance (ABF) offers specialised solutions in areas of Capital Market and Corporate Finance. The Capital Market Group offers its customers the best opportunity to meet their liquidity requirements by providing finance for investments in the primary and secondary markets. The Capital Market product suite comprises Loan against marketable shares and securities, IPO/Promoter Financing, Margin Funding, ESOP Financing and more. The Corporate Finance Group deals with SMEs and large corporate clients and aims to provide innovative solutions to meet all funding needs. The Corporate Finance product offerings include Bill / Invoice Discounting, Vendor / Channel Financing, Debt Syndication and more. Through its lending and financing solutions, ABF enables its investors to pursue ambitious growth strategies and execute value-creating transactions.

Commenting on the occasion, Mr. Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group, said, "Aditya Birla Finance will play a vital role in fulfilling the ABFSG vision of being a leader and role model in a broad based and integrated financial services business".

Adding to this, Mr. Sudhakar Ramasubramanian, the newly appointed CEO of the company said, "Aditya Birla Finance will actively pursue new avenues for growth while the focus will continue to remain on creating and maximising value for all our stakeholders".

About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has a significant presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Birla Sun Life Distribution Company, Aditya Birla Finance (erstwhile Birla Global Finance), Birla Insurance Advisory and Broking Services and Aditya Birla Capital Advisors.

The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its seven lines of business, with over 4.2 million customers manages assets worth US$18 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1550 branches and over 2 lakh channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With over a billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.

ABFSG is a part of Aditya Birla Nuvo Limited (ABNL), a US$3 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$29 billion Indian business house operating in 25 countries across the globe.

For further media information, contact:
Saman Khan,
Manager-Corporate Communications
Tel: +22 - 4356 9000, Extn: 9192
M: +91 9594060612 | +91 9892460612