ADIA picks up 10% in Aditya Birla Health for ₹665 crore

MUMBAI: An investment arm of Abu Dhabi Investment Authority (ADIA) will invest Rs 665 crore to pick up a 9. 99% stake in Aditya Birla Health Insurance. The health insurance company is a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments, a subsidiary of South African-based Momentum Metropolitan.

The transaction values the health insurer at approximately Rs 6,650 crore. The deal is subject to regulatory approvals. Upon the completion of the transaction, ADIA will own the 9. 99% stake, Aditya Birla Capital will have 45. 91%, and Momentum Metropolitan 44. 10%. Aditya Birla Health Insurance will use this capital for growth.

Aditya Birla Capital CEO Vishakha Mulye said, “In recent times, health has become a key concern for all. An investment from ADIA underscores Aditya Birla Health Insurance’s strong and unique business model and the franchise we have created. ”