Aditya Birla and Grasim merger, BSE hires for IPO

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By Jonathan Breen
15 Aug 2016

India’s Aditya Birla Nuvo is planning to merge with Grasim Industries and in the process spin off its financial services business, according to a statement from their parent Aditya Birla Group.

The board of directors of Aditya Birla Financial Services (ABFS), ABN and Grasim approved the merger, demerger and listing at their respective meetings on August 11.

The first step would be for ABN to merge into Grasim, following which the new entity’s financial services business would be demerged ...

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