With market capitalization of over $50 billion, the Aditya Birla group now has its place in the list of valuable conglomerates. This comes on the back of the company's financial services arm, Aditya Birla Capital's listing on September 1. At the end of the trading day on Friday, the total market valuation of the group's listed companies was Rs 3,42,354.87 crore ($53.5 billion).
The recent listing of Aditya Birla Capital is a rare instance wherein a company got listed on the stock exchanges without an IPO issue. In a statement the company said that the listing of the company without an IPO issue is the result of the composite scheme of arrangement which merged Aditya Birla Nuvo and Grasim Industries while the financial services arm of the company was spun off into a new entity named Aditya Birla Capital. Now on the new company is the holding company of the financial services arm of the group.
Of the group's several listed companies, valuation of UltraTech Cement and Grasim Industries stood at Rs 1,10,097.70 crore and Rs 76,881.73 crore at the end of Friday's trading session. The market cap of Aditya Birla Capital was over Rs 55,000 crore, Idea Cellular (Rs 32,064.91 crore), Aditya Birla Money (Rs 547.71 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Hindalco (Rs 54,607.09 crore).
Upon listing on the exchange on Friday, the shares of ABCL or Aditya Birla Capital dived by 5% and hit its lowest trading price allowable during the day.
In terms of combined valuation of listed companies, Tata group remains on the top with market cap of $132.5 billion or Rs 8,46,567 crore. Mukesh Ambani led Reliance group has a combined market cap of $81.9 billion or Rs 5,24,011.39 crore.