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    GRASIM   INE047A01021

GRASIM INDUSTRIES LIMITED

(GRASIM)
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Delayed NSE India Stock Exchange  -  05/27 07:26:46 am EDT
1396.70 INR   +0.30%
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Indorama India Private Limited completed the acquisition of Fertilizer Business of Grasim Industries Limited.

01/01/2022 EDT

Indorama India Private Limited entered into a definitive agreement to acquire Fertilizer Business of Grasim Industries Limited (NSEI:GRASIM) for INR 26.5 billion on November 12, 2020. The transfer of the business will be for a lump-sum cash consideration to be paid by IIP to Grasim. The consideration for the transfer of business of the Grasim involving manufacture, trading and sale of urea, customised fertilisers, agri-inputs, crop protection, plant and soil health products and specialty fertilizers. For year ended March 31, 2020, the total turnover from fertilizer business was INR 26.8 billion and have net worth of INR 13.4 billion. The Board of Directors of Grasim Industries Limited approved the transaction in a meeting held on November 12, 2020. The transaction is subject to the approval of the shareholders, creditors and other the necessary statutory and regulatory approvals including approvals of the NCLT, the Stock Exchanges, SEBI, Competition Commission of India (CCI) and sanction of the jurisdictional National Company Law Tribunal and is expected to take around 9 months to be consummated, subject to regulatory approvals. As of January 28, 2021, Competition Commission of India has approved the transaction. Transaction will help Grasim to release capital and resources to focus and pursue growth opportunities in its core businesses. As of February 6, 2021, Grasim has received Observation Letters with "no adverse observation" from BSE Limited and "no objection" from National Stock Exchange of India Limited for the proposed Scheme of Arrangement between Grasim Industries Limited and Indorama India Private Limited and their respective Shareholders and Creditors under Sections 230 to 232 of the Companies Act, 2013 and other relevant provisions under the applicable law. As of April 17, 2021, Majority of Secured Creditors representing three-fourth in value has approved the proposed Scheme of Arrangement between Grasim Industries Limited and Indorama India Private Limited and their respective Shareholders and Creditors. As of September 2, 2021, The National Company Law Tribunal has sanctioned the scheme of arrangement between Grasim Industries and Indorama India. As of November 12, 2021, the transaction is expected to be completed in December, 2021. Kotak Mahindra Capital Company Limited acted as Independent Fairness Opinion advisor and Cyril Amarchand Mangaldas acted a legal advisor to Grasim Industries. KFin Technologies Private Limited acted as transfer agent to Grasim Industries. Bansi S. Mehta & Co acted as Independent Registered Valuer in transaction. Indorama India Private Limited completed the acquisition of Fertilizer Business of Grasim Industries Limited (NSEI:GRASIM) on January 1, 2022.


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Financials
Sales 2022 197 B 2 542 M 2 542 M
Net income 2022 24 653 M 318 M 318 M
Net Debt 2022 15 415 M 199 M 199 M
P/E ratio 2022 41,7x
Yield 2022 0,44%
Capitalization 918 B 11 829 M 11 829 M
EV / Sales 2022 4,73x
EV / Sales 2023 3,76x
Nbr of Employees -
Free-Float 50,8%
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Number of Analysts 0
Last Close Price 1 396,70
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Managers and Directors
Hari Krishna Agarwal Managing Director & Director
Hutokshi R. Wadia President
Ashish Adukia Chief Financial Officer
Kumar Mangalam Birla Non-Executive Chairman
Bir Kapoor Chief Operating Officer-Pulp
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