Grasim Industries has announced the superannuation of Dr. Aspi Patel, Chief Technology Officer and Senior Management Personnel, effective December 31, 2025. The announcement was made through a regulatory filing to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Superannuation Details

Dr. Patel will cease his duties at the close of business hours on December 31, 2025, marking the end of his tenure as Chief Technology Officer with the company. The superannuation represents a natural conclusion to his service period with Grasim Industries.

Regulatory Compliance

The announcement was made pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, along with SEBI Circular SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Company Acknowledgment

Grasim Industries has placed on record its deep sense of appreciation for the services rendered by Dr. Aspi Patel during his tenure with the company. The filing was signed by Neelabja Chakrabarty, Company Secretary and Compliance Officer, and submitted to relevant stock exchanges including BSE Limited and National Stock Exchange of India Limited.

The notification was also shared with Luxembourg Stock Exchange and Citibank N.A. for their depositary receipt and custodial services, reflecting the company's international listing obligations.

Grasim Industries has announced board approval for a comprehensive Composite Scheme of Arrangement involving multiple entities within the Aditya Birla Group's renewable energy ecosystem. The scheme aims to create a consolidated renewable energy platform under Aditya Birla Renewables Limited (ABReN) while streamlining operational structures and improving efficiencies through scale and synergies.

Board Approval and Strategic Objectives

The Board of Directors approved the composite scheme involving Essel Mining & Industries Limited (EMIL) and Aditya Birla Renewables Limited, along with certain group entities. The arrangement is designed to create a consolidated renewable energy platform with ancillary services, simplifying management and operational structures while enhancing efficiency through operational synergies.

Three-Part Transaction Structure

The scheme comprises three distinct components designed to consolidate renewable energy operations. The first involves transfer of EMIL's Renewable Energy Undertaking to ABReN on a slump sale basis without individual asset valuation, carried out as a going concern in accordance with applicable provisions of the Income Tax Act. The second component includes amalgamation of Electrotherm Renewables Private Limited (ERPL), a wholly owned EMIL subsidiary, with ABReN. The third part covers amalgamation of three EPC companies - ABREL EPCCO Services Limited, ABREL Renewables EPC Limited, and ABREL EPC Limited - all wholly owned ABReN subsidiaries.

Financial Metrics and Market Performance

The scheme involves entities with significant financial standing. EMIL reported standalone turnover of ₹330.93 crores with net worth of ₹20,138.54 crores, while ABReN recorded turnover of ₹132.84 crores with net worth of ₹1,199.74 crores.

The consideration involves issuance of 39,90,75,667 equity shares by ABReN at ₹10.15 per share for EMIL's renewable energy undertaking transfer, and 9,35,35,000 equity shares for ERPL amalgamation. Grasim Industries shares closed at ₹2,846.00 on BSE, registering a gain of 1.00%.

Regulatory Approvals and Implementation

The scheme requires multiple regulatory approvals including shareholders and creditors of involved entities, National Company Law Tribunal approvals, and other statutory clearances. Post-scheme implementation, ABReN's shareholding structure will change significantly, with promoter group shareholding increasing from 118,10,43,563 shares to 167,36,54,230 shares, maintaining 100.00% promoter ownership. Upon effectiveness, Grasim's shareholding in ABReN will be diluted as part of the consolidation process.