Aditya Birla Capital to list on Friday
DSIJ Intelligence / 31 Aug 2017
Aditya Birla Capital, a financial services arm of AV Birla Group, is going to list on the mainstream bourses, NSE and BSE on September 1, 2017.
Aditya Birla Capital, a financial services arm of AV Birla Group, is going to list on the mainstream bourses, NSE and BSE on September 1, 2017. The listing without an IPO is the culmination of a composite scheme of arrangement under which Aditya Birla Nuvo was merged with Grasim Industries and the financial services undertaking was subsequently demerged into Aditya Birla Capital.
Aditya Birla Group Chairman Kumar Mangalam Birla will ring the opening bell on Friday. Aditya Birla Capital, earlier known as Aditya Birla Financial Services, is the holding company of the financial services business of the group.
The amalgamation of Aditya Birla Nuvo with Grasim and demerger and listing of the financial services business has created a large combination of manufacturing and service businesses commanding leadership positions across the cement, financial services, telecom, textiles, and chemicals sectors. The listing of financial services business is going to unlock value for all the shareholders.
Meanwhile, Nifty was trading at the 9,861 level, down by 22 points while Sensex was trading at the 31,558 level, down by 87 points.
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