Aditya Birla Capital lists on NSE, marks Aditya Birla Nuvo's merger with Grasim
WION Web Team
New Delhi, Delhi, IndiaUpdated: Sep 01, 2017, 07:59 AM IST
With the listing, Aditya Birla Nuvo completed its merger with Grasim. Photograph:(AFP)
Follow UsAditya Birla Capital Ltd listed on the NSE today at Rs 250.
The listing marks the culmination of an arrangement under which Aditya Birla Nuvo merged with Grasim Industries and the financial services arm was demerged.
Under the arrangement, investors in Grasim will get ten shares of Aditya Birla Nuvo for every three shares after which they will get seven shares in Aditya Birla Capital for every one share they hold in Grasim.
The swap ratio will allow investors of Grasim and Aditya Birla Nuvo to hold 25 per cent of Aditya Birla Capital.