Grasim Industries Ltd board approved a composite scheme with Essel Mining, ABREL, and other group entities to streamline its renewable operations and boost execution across the clean energy value chain.
Transfer of Essel Mining’s renewable energy undertaking
Under the approved scheme, Essel Mining and Industries’ renewable energy undertaking will be transferred to Aditya Birla Renewables, a wholly owned subsidiary of Grasim, on a slump sale basis as a going concern. Importantly, the transfer will take place without assigning individual values to assets and liabilities. The company said it will execute the transaction in line with applicable provisions of the Income Tax Act.
Merger of renewable subsidiaries into ABREL
The board approved merging Electrotherm Renewables and ABREL’s three subsidiaries—ABREL EPCCO Services, ABREL Renewables EPC, and ABREL EPC—into Aditya Birla Renewables under the composite arrangement.Consolidation to drive scale and efficiency.
The restructuring will consolidate renewable energy assets and services under one platform, simplifying structure, improving coordination, and enabling faster, more efficient project execution.
Subject to statutory and regulatory approvals
As reported by indiainfoline.com, Grasim said it will implement the scheme after securing shareholder, creditor, and regulatory approvals, including from the NCLT.
