Grindwell Norton (GNO) is planning to amalgamate the three group companies-Saint-Gobain Sekurit India (SGSIL), Saint-Gobain Crystals and Detectors India (SGCD) and SEPR Refractories (SEPR), collectively called transferor companies, with itself.
The merger ratio will be one equity share of Rs 5 each of the company for every 17 shares of Rs 10 each of SGSIL. For other two group companies, the swap ratio will be 100 shares of Rs 5 each of the company for every 50 shares of Rs 10 each of SGCD and for every 38 equity shares of Rs 10 each of SEPR, respectively.
Grindwell Norton is India’s leading manufacturer of abrasives (bonded, coated, non-woven, superabrasives and thin wheels) and silicon carbide. It also manufactures and markets high performance refractories and performance plastics products.
