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Indian Rayon rechristened Aditya Birla Nuvo
13 Sep '05
1 min read
The board of Directors of Indian Rayon and Industries Limited (Indian Rayon), Indo Gulf Fertilisers Limited (Indo Gulf) and Birla Global Finance Limited (Birla Global), in their respective meetings has approved the restructuring proposal for the mergers of Indo Gulf and Birla Global with Indian Rayon. The schemes of arrangement, valuation reports and share entitlement ratios were also approved by the respective boards at the meetings. This landmark restructuring, valued at over Rs. 5,000 crore, is one of the major consolidations of its kind in India.
•Indo Gulf and Birla Global Finance to merge with Indian Rayon
•1 equity share of Indian Rayon for 3 equity shares of Indo Gulf and 1 equity share of Indian Rayon for 3 equity shares of Birla Global. Transaction expected to be value enhancing for all shareholders. Indian Rayon to change name to "Aditya Birla Nuvo"
Click here to view restructuring schemes.
•Indo Gulf and Birla Global Finance to merge with Indian Rayon
•1 equity share of Indian Rayon for 3 equity shares of Indo Gulf and 1 equity share of Indian Rayon for 3 equity shares of Birla Global. Transaction expected to be value enhancing for all shareholders. Indian Rayon to change name to "Aditya Birla Nuvo"
Click here to view restructuring schemes.
Indian Rayon
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