Science

AB Capital shares list on bourses

AB Capital shares list on bourses”

The shares of Aditya Birla Capital (ABCL) got listed on the bourses on September 1, 2017, and later fell by 5 per cent to hit its lowest trading permissible limit for the day. The stock listed on NSE at Rs 237.5 per share and at Rs 248.15 per share on BSE.

Group chairman Kumar Mangalam Birla said the amalgamation announced past year, and the subsequent listing on Saturday has ensured the shareholder value has doubled to Rs 1.2 lakh crore as pre-merger the vertical's market cap was only Rs 60,000 crore.

"We are ready to take the next big step in our journey as we list Aditya Birla Capital". After this, investors in Grasim were given seven shares of Aditya Birla Capital for every one equity share they owned. "A single brand that people of India can trust and relate to for all their money needs", Ajay Srinivasan, CEO of Aditya Birla Capital said on Friday. ABCL is the holding company of all the financial services businesses of the Aditya Birla Group.

The listing is the last phase of a composite scheme of arrangement under which Aditya Birla Nuvo was merged with Grasim Industries and the financial services business was subsequently demerged into Aditya Birla Capital. We've operating experience across businesses as a group, which we can bring in to this business.

Birla also said the amalgamation announced previous year and the subsequent listing of the company has ensured that shareholder value has doubled to Rs1,20,000 crore from Rs60,000 pre merger.



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