Grasim Industries, the flagship company of the Aditya Birla Group, has finalized the pricing for its approved rights issue at Rs 1,812 per rights equity share. The cement giant aims to raise funds up to Rs 4,000 crore through this rights issue, a move sanctioned in October, intending to support ongoing capital expenditure initiatives and settle existing borrowings.
As outlined in the exchange filing on January 4, Grasim will issue a maximum of 2.2 crore shares exclusively to promoters and the promoter group. The rights entitlement structure is established at the ratio of six shares for every 179 fully paid-up equity shares held by eligible equity shareholders as of the record date. This strategic rights issue is part of the company’s financial strategy, commonly employed by businesses to secure additional capital for diverse purposes.