Grasim Consolidates Renewable Assets via Composite Scheme; Boosts Efficiency

• Grasim Industries' board approved a composite scheme to consolidate its renewable energy assets.
• The scheme involves Essel Mining & Industries Ltd and Aditya Birla Renewables Ltd, a wholly-owned subsidiary.
• Essel Mining's renewable energy undertaking will be transferred to Aditya Birla Renewables on a slump sale basis.
• Multiple subsidiaries, including Electrotherm Renewables and three ABREL EPC companies, will be amalgamated/merged into Aditya Birla Renewables.
• The arrangement aims to create a consolidated renewable energy platform, simplifying operations and improving efficiencies.

Why It Matters: Grasim streamlines its renewable energy portfolio for enhanced operational efficiency and synergy.