Aditya Birla Nuvo hits record high; Grasim Industries up 3% in weak market

Fixes July 6, 2017 as record date for amalgamation of Aditya Birla Nuvo into Grasim Industries.

Shares of Kumar Mangalam Birla – promoted Aditya Birla Group companies, Aditya Birla Nuvo and Grasim Industries, were up 3% each on BSE, extending their four-session long gains after fixing July 6, 2017 as record date for the scheme of amalgamation.

Upon the Scheme becoming effective and in consideration of the amalgamation of Aditya Birla Nuvo into Grasim Industries,.

Grasim Industries shall issue and allot equity shares to the shareholders of Aditya Birla Nuvo in the share exchange ratio of 15 equity shares of Grasim Industries for every 10 equity Shares held in Aditya Birla Nuvo.

After