Aditya Birla Nuvo’s shareholders have approved the proposal to merge with its group company Grasim Industries. Investors voted on the proposal at the National Company Law Tribunal convened meeting held on April 10, 2017.
Overall, the proposal was passed with 96 per cent of shareholders, including the promoter, voting in favour of the resolution. The resolution was approved by about 99 per cent of minority shareholders. Among the institutional investors, 76 per cent voted in favour, while the remaining opposed the proposal. About 157 members, including institutional investors owning 4,992,846 shares accounting for 4.45 per cent of vote casted, were against the merger proposal.
| Company Name | CMP |
|---|---|
| Grasim Industries | 2738.35 |
| DCM Shriram | 1172.90 |
| 3M India | 31479.65 |
| Hindustan Foods | 516.55 |
| Balmer Lawrie & Co | 172.10 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: