Grasim Industries receives Rs. 1866.94 crore for divestment of Indo Gulf Fertiliser Business

Grasim Industries Limited ("Company" / "Transferor Company") had earlier announced the completion of transfer of Indo Gulf Fertiliser Business i.e. Divestment Business Undertaking as defined in the Scheme of arrangement and the receipt of consideration aggregating to Rs.1,860 Crore (after agreed adjustments as per the Scheme, primarily on account of reduction in the working capital since announcement, due to realization of outstanding fertilizer subsidy by the Company) from the Transferee Company.

Upon completion of the statutory audit of the Divestment Business Undertaking (as defined in the Scheme), the final consideration stands revised to Rs.1,866.94 Crore as against the amount of Rs.1,860 Crore received by the Company on 1st January 2022.

Shares of Grasim Industries Limited was last trading in BSE at Rs. 1599.05 as compared to the previous close of Rs. 1565.55. The total number of shares traded during the day was 129194 in over 1895 trades.

The stock hit an intraday high of Rs. 1603.40 and intraday low of 1540.00. The net turnover during the day was Rs. 205956783.00.

Source : Equity Bulls

Keywords

GrasimIndustries INE047A01021 Divestment IndoGulf FertiliserBusiness Consideration