Grasim Industries Limited Invests In Subsidiary Aditya Birla Renewables Through Preferential Share Issue
Aditya Birla Renewables Limited (ABReN) has approved a proposed infusion of funds by Grasim Industries Limited, which will be executed through the issuance of equity shares. The investment highlights the promoter's stake and commitment to the subsidiary.The infusion involves a preferential issue on a private placement basis. ABReN is undertaking the issuance of Equity shares at an agreed price following mutual valuation.
Key details regarding the proposed share offering and its outcome are as follows:
| Detail | Particulars |
|---|---|
| Type of Securities | Equity shares |
| Issuance Type | Preferential issue on a private placement basis |
| Total Shares Proposed | Upto 23,15,27,093 Equity shares (face value INR 10/- each) |
| Issue Price per Share | INR 10.15 per equity share |
| Maximum Consideration | INR 234,99,99,994/- |
Grasim Industries Limited, acting as the promoter, has secured one investor for this issue. The allotment process resulted in significant changes to the shareholding structure of ABReN.
Details regarding the post-allotment outcome of the subscription are presented below:
| Stakeholder | Post-Allotment Shareholding (Shares) | Post-Allotment Shareholding (%) |
|---|---|---|
| Grasim Industries Limited | 141,25,70,656 | 73.76% |
GRASIM Stock Price Movement
Today, Grasim Industries Limited shares edged higher, closing at ₹3116.2 after a solid gain of 0.12%. The stock saw robust activity in the aftermarket, with over 388,153 shares being traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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