Grasim Industries Ltd has proposed to merge Aditya Birla Nuvo Ltd with itself. Shareholders of Aditya Birla Nuvo would get 3 shares of Grasim for every 10 shares they hold. Thereafter, Aditya Birla Financial Services – would be demerged and listed as a separate entity where for every 1 share held in Grasim a shareholder will get 7 shares in Aditya Birla Financial Services which would be then listed separately.
Wouldn’t it be better to first demerge Aditya Birla Financial Services from (more…)