Aditya Birla Chemicals merged with Grasim Industries

MUMBAI: Aditya Birla Chemicals (India) (“ABCIL”) on Monday announced its merger with Grasim Industries. According to the statement released by the business group, ‘with the merger becoming effective, Grasim’s standalone EBITDA for the six months ended 30th September, 2015 stands increased from Rs 728 Crore (pre-merger) to Rs 883 Crore (post-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.

‘Grasim is the largest Chlor-Alkali manufacturer in India. This merger has resulted in the geographical diversification of the Chlor-Alkali business of the Company. It also enables the business to capitalize growth opportunities backed by Grasim’s inherent strengths,’ added the statement.