Shares of Aditya Birla Capital on Friday got listed at Rs 250 on the NSE. Kumar Mangalam Birla, Chairman. Aditya Birla Group, rang the opening bell to signal the listing of ABCL.

At 11.15 a.m., the scrip was trading down by 5 per cent at Rs 237.50 over its listing price.

The listing of ABCL is the last leg in execution of the composite scheme of arrangement under which Aditya Birla Nuvo was merged with Grasim Industries and the financial services business was subsequently demerged into ABCL for listing.

Formerly known as Aditya Birla Financial Services Ltd, ABCL is the holding company of the financial services businesses of the Aditya Birla Group.

As per the scheme of amalgamation, Grasim issued three shares for every 10 shares of AB Nuvo held by investors. After this, investors in Grasim were given seven shares of Aditya Birla Capital for every one equity share they owned.

The swap ratio ensured that Grasim and Aditya Birla Nuvo investors own 25 per cent of Aditya Birla Capital.

Post merger, the promoters' holding in Grasim will increase to 38.8 per cent from 31.3 per cent and it will be 57.2 per cent in the financial services company. Grasim will continue to hold 26 per cent in the merged entity of Idea Cellular and Vodafone India, which was announced in March.