Grasim Industries Ltd merges with Aditya Birla Chemicals
Published by Joseph Green,
Editor
World Cement,
Aditya Birla Chemicals Limited is to be merged with Grasim Industries Limited from 1 April 2015 with all the requisite approvals for the Scheme of Amalgamation in place.
Grasim’s standalone EBITDA for the six months ended 30 September 2015 stands increased from Rs.728 crore (pre-merger) to approximately Rs.883 crore (post-merger).
Grasim will issue 14.62 lakh equity shares to the eligible shareholders of ABCIL in the ratio of 1 equity share of Rs.10 each of Grasim for every 16 shares of Rs.10 each of ABCIL. The share capital will increase from Rs.91.88 crore to Rs.93.34 crore.
Grasim is the largest chlor-alkali manufacturer in India. The company’s installed capacity of caustic soda has risen from 453K TPA to 804K TPA.
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/indian-subcontinent/07012016/grasim-industries-merges-aditya-birla-chemicals-279/
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