At meeting held on 29 June 2017
The Board of Directors of Aditya Birla Capital at its meeting held on 29 June 2017 have approved to offer and issue on preferential issue 4,84,00,000 equity shares of face value of Rs 10 each at a price of Rs 145.40 (including premium of Rs 135.40) to PI Opportunities Fund-1.The Company announced that pursuant to the Composite Scheme of Arrangement between the Company, Aditya Birla Nuvo and Grasim Industries, the Company is permitted to issue additional equity shares to financial investors aggregating to not more than 5% of the fully diluted share capital of the Company, by way of preferential allotment.
The Company on 29 June 2017 has entered into a definitive Share Subscription Agreement with PI Opportunities Fund - 1, an affiliate of Premji Invest. As per the agreement, the Fund will subscribe to about 2.2% of the post scheme fully diluted equity share capital of the Company. The proposed transaction values the Company at Rs 32000 crore on a post money basis.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content