Grasim to turn ex-date for AB Nuvo merger

Shares of Grasim Industries and Aditya Birla Nuvo will remain in focus ahead of the merger. Shares of Grasim will turn ex-date on Wednesday for a scheme of arrangement whereby Grasim will issue three shares for every 10 shares of AB Nuvo held by investors. Investors in Grasim will get seven shares of Aditya Birla Financial Services (to be demerged from AB Nuvo and listed later) for every one equity share they own. Investors need to buy Grasim shares by Tuesday.