05 Jan 2016
Grasim Industries, Aditya Birla Chemicals complete merger process
Mumbai: Aditya Birla Chemicals (ABCIL) on Monday announced completion of merger process with Grasim Industries. The call to consolidate similar businesses was made early 2015.
According to the statement released by the conglomerate, post-merger Grasim's standalone EBITDA for the six months ended 30th September, 2015 increased from Rs 728 crore to Rs 883 crore (post-merger to pre-merger). The company said that 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. ABCIL is one of the largest Chlor-Alkali companies in India with three manufacturing plants.