Aditya Birla Capital to sell insurance broking unit for ₹455 cr

Aditya Birla Capital has decided to exit the insurance broking business by selling its entire stake in Aditya Birla Insurance Brokers Limited (ABIBL) to Edme Services, a part of the Samara Capital Group. The entire stake sale will be executed at an enterprise value of ₹455 crore. Infocyber India, the other shareholder of ABIBL, will sell 49.998% of the company.