August 12, 2016 05:49 PM IST One of the key drivers for AB Group restructuring is to try and provide the right platform for the future growth of its financial services business, says Raj Balakrishnan, Managing Director, Investment Banking, BofAML.
August 12, 2016 01:11 PM IST JN Gupta, former ED of Sebi told CNBC-TV18 that no present law prohibits the creeping acquisitions before a merger and if it was done in accordance with the law then there won't be any issue.
August 12, 2016 12:01 PM IST Grasim is already trading on discount on back of its two businesses - cement and textile and instead of simplifying it, this structure has been complicated, which does not go down well its shareholders, Anil Singhvi, Chairman of Ican Investment Advisors says.
August 12, 2016 08:57 AM IST While both the companies will create value for shareholders, it will be lesser than value of its subsidiaries, says independent market expert Rakesh Arora.
August 11, 2016 09:58 PM IST The shareholders of both Grasim and AB Nuvo will be given shares is the biggest upside of the merger, says Kaku Nakhate, Country Head, Bank of America India.
August 11, 2016 09:30 PM IST AB Nuvo today announced its plan to merge with Grasim, which will be followed by demerger of its financial services business. The shareholders of Nuvo will get 30 shares of Grasim for every 100 shares.
August 11, 2016 08:28 PM IST Certain verticals will require funding to scale up like housing finance, insurance and non-banking finance company, says Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group. The company has no plans of listing the verticals separately anytime soon.
August 11, 2016 08:04 PM IST The Rs 35,000 crore debt of AB Nuvo will have to be taken up by Grasim. This fact will not bode well with the shareholders, Sp Tulsian says. He has never seen such a negative move against the minority shareholders, he says.
August 11, 2016 07:31 PM IST The revenue of new entity formed is expected to be around Rs 60,000 crore while EBITDA will be near Rs 12,000 crore, says Sushil Agarwal, CFO of Grasim.
August 10, 2016 06:16 PM IST The one stock that came under tremendous pressure today was Grasim, with the markets reacting to our newsbreak last evening about a major rejig being under way at the Mumbai-headquartered group.
August 09, 2016 03:33 PM IST Aditya Birla Group is gearing up for a rejig and is realigning its business verticals such as Grasim, AB Nuvo and AB Money, according to the people in the know of the group. The aim is to focus on core assets, while diversifying and expanding into growth sectors, reports CNBC-TV18's Kritika Saxena.
June 21, 2012 05:27 PM IST The Competition Commission of India (CCI) has pulled up 11 cement companies for forming a cartel and has penalized them with a fine of around Rs 6,000 crore. The commission has asked the companies to pay up 50% of their FY10 profits as penalty.
