Clearing a major hurdle, the minority shareholders of Grasim Industries have given their green signal to the mega-merger proposal with Aditya Birla Nuvo in a shareholders meeting held today in Nagda, Madhya Pradesh. The...
Voting on Grasim-Aditya Birla Nuvo merger to begin 6 March
Shareholders of Grasim Industries Ltd will begin voting on the company’s proposed merger with Aditya Birla Nuvo Ltd on 6 March. Voting will remain open for 30 days until 5 April, according to a stock exchange notice...
Grasim denies ‘large investment’ in Idea Cellular as part of Vodafone merger
Grasim Industries, an Aditya Birla Group company, on Wednesday, denied rumors that it would be making a large investment into Idea Cellular as part of the proposed merger between Vodafone and the country’s third largest...
Question merger of Aditya Birla’s financial services arm with Grasim: IiAS
MUMBAI: Proxy advisory firm IiAS has raised doubts if Aditya Birla Financial Services (ABFL) would benefit from the recently announced restructuring plan by the Aditya Birla Group. In August, Aditya Birla said they...
Grasim-Nuvo merger helps promoters shore up holding
The proposed merger between Grasim Industries and Aditya Birla Nuvo (ABNL) is in line with the group’s long-term strategy to shore up promoter holding to 40 percent in all listed entities. In May 2004, group chairman...
LIC, Aberdeen hold key to Nuvo-Grasim merger
Domestic and foreign institutional investors such as Life Insurance Corporation of India and UK’s Aberdeen Fund, which together hold over 50 per cent in Grasim Industries, will be key decision makers in Aditya...
Ten things to know about AB Nuvo and Grasim Industries merger
NEW DELHI: In a massive rejig, Aditya Birla NuvoBSE -18.40 % has been merged into Grasim IndustriesBSE -1.34 % to unlock value. “The merger will unlock value for shareholders,” said Kumar Mangalam Birla...
Grasim, Nuvo shares tank on merger reports
The Aditya Birla group companies, Aditya Birla Nuvo, Grasim and Idea Cellular lost a combined market value of Rs 5,300 crore on Wednesday following reports the group was merging its two holding companies, Grasim and...
Aditya Birla Group rejig may lead to Grasim-Nuvo merger
MUMBAI: After consolidating its garments business into a single entity last year, the $41-billion Aditya Birla Group is planning another round of corporate reorganisation to unlock value and beef up the balance sheet...
Grasim divests Shree Digvijay Cement stake for Rs 322 cr
Grasim divests Shree Digvijay Cement stake for Rs 322 cr Grasim Industries Ltd, an Aditya Birla flagship company, has divested its entire equity holding of 53.63 per cent in Shree Digvijay Cement Company Ltd (SDCC) to...
Grasim to divest stake in Digvijay Cement to Cimpor
Grasim to divest stake in Digvijay Cement to Cimpor Aditya Birla Group firm Grasim Industries on Wednesday said it will sell its 53.63 per cent stake in Shree Digvijay Cement Company (SDCC) to Cimpor – Cimentos De...
Grasim likely to buy stake in Austrian fibre-maker
Grasim likely to buy stake in Austrian fibre-maker The Aditya Birla group is believed to be in advanced talks to pick up stake in Austrian fibre manufacturer Lenzing. While an industry source said Grasim Industries, a...