Recently in Mumbai, Shares of Aditya Birla Capital Ltd bore a price tag of Rs. Rs. 250 on NSE. The stock decreased as much as 5% to Rs237.50 per share while the Nifty index rounded to 9,974.40, a 0.57% rise.
The listing is marked as the final phase a composite scheme under which Aditya Birla Nuvo-Grasim Industries merger was observed. Subsequently, the business pertaining to financial services was demerged into Aditya Birla Capital.
According to scheme after the merger, Grasim rolled out three shares for every 10 shares held by the investors of AB Nuvo. Afterwards, Grasim investors were offered seven shares of Aditya Birla Capital for 1 equity share they owned.
The exchange ensured that the investors of Aditya Birla Nuvo as well as Grasim owned a share of 25% of Aditya Birla Capital.
Now the company is dominant across arenas like pension fund management, asset management, general insurance broking, life insurance, corporate lending, commodity broking, equity and health insurance.