Why Are You Critical Of The Grasim-Nuvo Merger?

Last week, the Aditya Birla Group announced a restructuring in which group companies Grasim and Nuvo would merge into a new Grasim. Thereafter Nuvo’s financial services business would be demerged and listed with Grasim owning 57 percent of it, promoters owning 17 percent and public shareholders 26 percent. The markets have dissed the merger and both Grasim and Nuvo shares have fallen sharply since then. Speaking to BloombergQuint’s Menaka Doshi, Anil Singhvi, the founder of proxy advisory firm IIAS, said the restructuring does not help public shareholders of either company. Read more about this on BloombergQuint: http://www.bloombergquint.com/opinion... Read more of Opinion here: http://www.bloombergquint.com/section... Read more articles by Menaka Doshi at: http://www.bloombergquint.com/author/...