Grasim Unites Renewable Assets: Major Merger Update from Aditya Birla Group

• Grasim Industries' board approved a composite scheme of arrangement with Essel Mining And Industries (EMIL) and Aditya Birla Renewables (ABReN).
• EMIL's renewable energy business will transfer to Aditya Birla Renewables, a wholly-owned Grasim subsidiary.
• Essel Mining (ERPL) and three ABReN subsidiaries (ABREL EPCCO Services Limited, ABREL Renewables EPC Limited, ABREL EPC Limited) will merge into Aditya Birla Renewables.
• The scheme aims to create a consolidated renewable energy platform, simplifying management and boosting efficiency.
• Grasim Industries' share closed 1% higher at Rs 2,846, showing a 16.47% rise over the past year.

Why It Matters: Grasim Industries consolidates its renewable energy assets under Aditya Birla Renewables for efficiency and scale.