Aditya Birla Capital (ABCL), the holding company of the financial services business of Aditya Birla Group, will exit its insurance broking business by selling Aditya Birla Insurance Brokers (ABIBL) to Samara Capital for an upfront payment of Rs 455 crore.
Further, under the share purchase agreement (SPA), the company and Infocyber (the other shareholder) may receive an additional consideration after completion of five years from the closing which is conditional upon the fulfilment of certain conditions under the SPA.
