Grasim Industries Limited Rights Issue opening date: Wednesday, 17th January 2024

MUMBAI, 4 JANUARY, 2024 (GPN): Grasim Industries, an Aditya Birla group company, plans to raise Rs 4,000 crore through rights issue to fund its ongoing capital expenditure and repay debt. The company is expected to begin its venture into decorative paint business in the March quarter.

Aditya Birla Group Grasim Industries Limited Board at its meeting held today has, inter alia, approved the following terms of the Rights Issue:

a. Total number of rights equity shares and Rights Issue size: 2,20,73,935 equity shares of the Company each on partly-paid basis (“Rights Equity Shares”) for an amount aggregating to Rs 3,999.80 crore.

b. Rights Issue price: Rs 1,812 per Rights Equity Share when fully paid-up (including a premium of Rs 1,810 per Rights Equity Share)

c. Record date: Wednesday, 10th January 2024

d. Rights Issue period:
1. Rights Issue opening date: Wednesday, 17th January 2024;
2. On-market renunciation period: Tuesday, 23rd January 2024;
3. Off-market renunciation: It is noted that the eligible equity shareholders will have to ensure that renunciation through off-market transfers are completed in such a manner that the rights entitlements are credited to the demat account of the renouncees on or prior to the Issue closing date; and
4. Rights Issue closing date: Monday, 29th January 2024.

e. Outstanding Equity Shares:
1. Prior to the Rights Issue: 65,85,39,071 equity shares of the Company including 28,295 Equity Shares to be issued as fully paid up pursuant to acquisition of the cement business of Aditya Birla Nuvo Limited under scheme of arrangement without the payment being received in cash and 61,985 Equity Shares kept in abeyance pursuant to the provisions of Section 126 of the Companies Act, 2013, which along with the issued, subscribed, paid-up and outstanding Equity Shares prior to the Issue aggregates to 65,85,39,071 Equity Shares.
2. Post Rights Issue# : 68,06,13,006 equity shares of the Company.
including 28,295 Equity Shares to be issued as fully paid up pursuant to acquisition of the cement business of Aditya Birla Nuvo Limited under scheme of arrangement without the
payment being received in cash and 61,985 Equity Shares kept in abeyance pursuant to the provisions of Section 126 of the Companies Act, 2013, which along with the issued, subscribed, paid-up and outstanding Equity Shares post the Issue aggregates to 68,06,13,006 Equity Shares.

Rights entitlement ratio: 6 Rights Equity Shares for every 179 fully paid-up equity share of the Company held by the eligible equity shareholders of the Company, as on the record date (“Eligible Equity Shareholders)

Grasim Industries, a part of the Aditya Birla Group, had announced the brand name ‘Birla Opus’ for its decorative paints business last Quarter. Launched in Q4FY24, the company aims to deliver a premium range of paints, strategically expanding their presence in the Indian market and aspiring to become a prominent player in the industry.

Grasim Industries Ltd. Rights Issue
Key details Source: BSE https://www.bseindia.com/xml-data/corpfiling/AttachLive/54a1ee6e-de48-41ba-bae3-443d65e76956.pdf