04 January 2016

Aditya Birla Chemicals (India) Limited merged with Grasim Industries Limited

Mumbai: Aditya Birla Chemicals (India) Limited (“ABCIL”) has been merged today with Grasim Industries Limited (“Grasim”) from the appointed date of 01 April 2015 with all the requisite approvals for the Scheme of Amalgamation in place.

With the merger becoming effective, Grasim’s standalone EBITDA for the six months ended 30 September 2015 stands increased from Rs.728 crore (pre-merger) to ~ Rs.883 crore (post-merger).

Grasim will issue 14.62 lakh equity shares to the eligible shareholders of ABCIL in the ratio of 1 (one) equity share of Rs.10 each of Grasim for every 16 (sixteen) 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 merger has consolidated its leadership. The company’s installed capacity of caustic soda has risen from 453K TPA to 804K TPA. This merger has resulted in the geographical diversification of the Chlor-alkali Business of the company. It also enables the business to capitalise growth opportunities backed by Grasim’s inherent strengths.