Grasim to demerge cement business
New Delhi, October 03: Aditya Birla Group firm Grasim Industries today said it will demerge its cement business into another group company, Samruddhi, as part of a restructuring plan.
“Under the scheme (of restructuring), Grasim will transfer its cement business, including related business/ investments but excluding its investment in UltraTech, to Samruddhi,” Grasim Industries said in a communique to the Bombay Stock Exchange.
As part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.