Grasim Industries, ABCIL receives CCI approval for merger

10 Sep 2015 Evaluate

The Competition Commission of India (CCI) has approved the amalgamation of Grasim Industries with Aditya Birla Chemicals (India) (ABCIL). The company has received the approval through letter dated September 07, 2015 which was received by it on September 08, 2015.

Earlier in July this year, ABCIL has received shareholders’ approval for merging itself with Grasim Industries. The two companies of Aditya Birla Group are being merged in order to consolidate similar businesses under one roof.

Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90 per cent of its revenues and operating profits.
 

Grasim Industries Share Price

2493.85 -43.70 (-1.72%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Grasim Industries 2493.85
DCM Shriram 1065.45
Birla Corporation 1264.35
Surya Roshni 547.90
3M India 30745.80
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