Aditya Birla Nuvo provides update on composite scheme of arrangement

Sub-division of shares of Grasim; Share Exchange Ratio; Share Entitlement Ratio

Aditya Birla Nuvo provided further update to the Composite Scheme of Arrangement between Aditya Birla Nuvo ("ABNL"), Grasim Industries ("Grasim"), Aditya Birla Financial Services ("ABFSL") and their respective Shareholders and Creditors (Draft Scheme).

With effect from 08 October 2016, equity shares of Grasim having face value of Rs 10 each shall be sub-dividend into 5 equity shares of Rs 2 each.

With reference to amalgamation of ABNL with Grasim, 15 equity shares of Rs 2 each of Grasim (transferee company) will be credited as fully paid for every 10 equity shares of Rs 10 each of ABNL (transferor company).

With reference to demerger of financial services business of Grasim, 7 equity shared of Rs 10 each of ABFSL (resulting company) will be credited as fully paid for every 5 equity shares of Rs 2 each of Grasim (demerged company).

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