Shareholders of ABNL, ABFSL and Grasim Industries Limited in April 2017 approved the amalgamation of Aditya Birla Nuvo Limited with Grasim.
The shareholders also approved the demerger and listing of Aditya Birla Financial Services Limited, part of ABFSL.
The merged Grasim entity will have a consolidated turnover of INR 59,766 crore, EBITDA of INR 11,961 crore and net profit of INR 4,245 crore for year closing March 2016.
This will be the number 1 cement company in India with the largest selling brands. The new entity will also have the distinction of being the third largest telecom operator in India and a leading player in textiles and chemicals.
Other key statistics- Among the top 5 fund managers in India with funds under management of Rs 2,29,500 crore
- Among the top 7 private non-HFC NBFCs in India with a lending book of Rs 29,852 crore
- Among the top 4 private sector life insurers and asset management companies in India
The merger is subject to the final approval from the National Company Law Tribunal (NCLT), the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
It is a conglomerate having leadership positions in cement, viscose staple fibre and chemicals businesses.
Its subsidiary UltraTech Cement Ltd is the largest Indian cement manufacturer with a capacity of 69.3 million tons per annum and is also the largest in the white cement and ready mix concrete segment.
It is a conglomerate with leadership positions across its businesses.
Its Financial Services Business ranks among the top 5 fund managers in India.
Its telecom venture, Idea Cellular, is among the top 3 cellular operators in India.
Recently, it received a license from RBI to commence Payments Bank operations in a joint venture with Idea Cellular.
Grasim: Know More- Headquarters: Nagda
- Founded: 1948, Mumbai
- Subsidiaries: UltraTech Cement, Grasim Bhiwani Textiles, more
- Parent organization: Aditya Birla Group
