Implementing Next Phase of Transformational Growth Journey - Grasim to raise Rs.4000 Cr through rights issue

The board of Grasim Industries Limited today approved the raising of funds not exceeding ₹4,000 crore by way of a rights issue to the eligible equity shareholders as on the record date. The proposed rights issuance by Grasim aims to fund the ongoing capital expenditure plan, repay existing borrowings, and support general corporate purposes.

In its transformational growth journey, Grasim is implementing its highest ever capital expenditure plan. The Company has raised debt to part fund the on-going capital expenditure plan and the funds raised by this issue will also be largely used towards growth capex. The capital outlay for the Company to establish itself as India's second largest decorative paints player is on track. Furthermore, the Company is committed to sustaining market leadership in its core businesses Viscose and Chemicals (at Standalone level). The rating agencies continue to reaffirm Grasim's 'AAA' ratings.

The rights issue enables existing shareholders to participate in Grasim's growth journey. The Promoters and Promoter Group have confirmed their participation. They will fully subscribe to their rights entitlement and also to the unsubscribed portion, if any, demonstrating their deep conviction in Grasim's growth prospects.

The Board or a duly constituted Committee of the Board would decide the terms and conditions of the Rights Issue and will be subject to applicable laws and regulatory/statutory approvals as may be required. The Company intends to complete the said issue at the earliest, subject to market conditions and other factors, including the receipt of any regulatory approvals.

About Grasim Industries Limited

Grasim Industries Limited, a flagship company of the Aditya Birla Group, ranks amongst the top publicly listed companies in India. Grasim has completed 76 glorious years of its existence. Incorporated in 1947, it started as a textiles manufacturer in India. Today, it has evolved into a leading diversified player with leadership presence across many sectors. It is a leading global producer of Viscose, Diversified Chemicals, Linen Yarn and Fabrics producer in India. The company recently has entered paints business and setting up six plants across pan India locations. Leveraging the Group synergies, Grasim has launched "Birla Pivot", the B2B online marketplace for building materials. Through its subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, it is also India's prominent cement producer, leading diversified financial services player and clean energy solutions player. At Grasim, there is an endeavour to create sustainable value for 43000+ employees, 247,000+ shareholders, society, and customers. The company reported consolidated net revenue of ₹1,17,627 Cr. and EBITDA of ₹20,478 Cr. in FY 2023.

GRASIM INDUSTRIES LIMITED

Aditya Birla Centre, 'A’ Wing, 2nd Floor,
S. K. Ahire Marg, Worli,
Mumbai - 400 030
Registered Office: Birlagram, Nagda - 456 331 (M.P.)
Tel: (07366) 246760-66,
Fax: (07366) 244114, 246024,
CIN: L17124MP1947PLC000410

www.grasim.com & www.adityabirla.com
twitter: www.twitter.com/adityabirlagrp ; Twitter handle: @GrasimInd / @AdityaBirlaGrp

Cautionary Statement
Statements in this "Press Release" describing the Company's objectives, projections, estimates, expectations, or predictions may be "forward looking statements" within the meaning of applicable securities law and regulations. Actual results could differ materially from those express or implied. Important factors that could make a difference to the Company's operations include global and Indian demand supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Company's principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statement, on the basis of any subsequent development, information or events, or otherwise.