Grasim Industries Rights Issue

Grasim Industries Rights Issue will open for subscription from 17 January 2024. the company aims for an issue size of ₹3,999.80 Crores through this rights Issue.

About the company

Incorporated in 1947, Grasim Industries Limited is a textile manufacturing company based in Mumbai, India, and produces Viscose, Diversified Chemicals, Linen Yarn, and Fabrics. The company has recently entered the paint business under the brand name ‘Birla Opus’ and plans to set up six manufacturing plants for decorative paints across various locations in India. Grasim aims to create sustainable value for employees, shareholders, society, and customers. In FY2023, the company reported consolidated net revenue of ₹1,17,627 Cr. and EBITDA of ₹20,478 Cr.

Objectives of the Issue

  • Repayment or prepayment, in full or in part, of certain borrowings availed by our Company; and
  • General corporate purposes.

Grasim Industries Rights Issue Timetable

Last Date to buy shares09 January 2024
Record Date10 January 2024
Credit of Rights Entitlements16 January 2024
Bid/Offer Opens On17 January 2024
Renunciation of Rights Entitlements23 January 2024
Bid/Offer Closes On29 January 2024
Deemed Date of Allotment08 February 2024
Credit Date09 February 2024
Listing Date12 February 2024

Grasim Industries Rights Issue Details

Issue OpenJanuary 17, 2024 – January 29, 2024
Security NameGrasim Industries Ltd.
Issue Size (Shares)22,073,935
Issue Size (Amount)₹3,999.80 Crores
Issue Price₹1812 per share
Face Value₹2 per share
Listing AtBSE, NSE
Terms of PaymentThe amount of Rs. 453 per Rights Equity Share is to be paid on the Application. The balance of Rs 1,359 will be paid on up to three subsequent calls as determined by the Board.
Entitlement6 Rights Equity Share(s) for every 179 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax11,078.2011,206.296,986.70
Net Worth78,742.0075,698.0065,494.00
Reserves and Surplus78,610.0075,567.0075,567.00
(Amount in ₹ Crore)

Grasim Industries Rights Issue Documents

Lead Manager(s)

  • Axis Capital Limited
  • BofA Securities India Limited
  • Jefferies India Private Limited
  • JM Financial Limited
  • Kotak Mahindra Capital Company Limited
  • SBI Capital Markets Limited

Grasim Industries Rights Issue Registrar

Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222

Company Contact Information

Grasim Industries Ltd.
Aditya Birla Centre, ‘A’ Wing, 2nd Floor,
S.K. Ahire Marg,
Worli, Mumbai 400 030,

Phone: +91 22 6652 5000

Final Thoughts

Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.

Happy investing

Leave a Comment

Your email address will not be published. Required fields are marked *