Aditya Birla Nuvo to be dropped from BSE indices from January 20

By: | Published: January 13, 2016 6:39 PM

Aditya Birla Nuvo will be dropped from BSE indices from January 20 following demerger of its fashion retail business into Pantaloons Fashion & Retail.

Aditya Birla Nuvo will be dropped from BSE indices from January 20 following demerger of its fashion retail business into Pantaloons Fashion & Retail.

In all, Aditya Birla Nuvo would be excluded from 10 indices including S&P BSE 100, S&P BSE 200, S&P BSE 500, S&P BSE AllCap and S&P BSE Industrials.

In its place, Cadila Healthcare, Cholamandalam Investment and Finance and Adani Transmission would be included in in BSE 100, BSE 200 and BSE 500 respectively.

“Aditya Birla Nuvo Ltd is demerging its fashion retail business into Pantaloons Fashion & Retail. Effective at the open of Wednesday, January 20, 2016, Aditya Birla Nuvo will be dropped from the indices,” Asia Index, a BSE and S&P Dow Jones joint venture, said.

Yesterday, Pantaloons Fashion & Retail, which was acquired by Aditya Birla Nuvo announced change in its name to Aditya Birla Fashion and Retail Ltd.

In May, Aditya Birla Nuvo announced merger of all its branded apparel businesses into one entity, Aditya Birla Fashion and Retail Ltd.

Under the scheme of arrangement, the apparel businesses of group holding company Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail would be demerged into listed firm Pantaloons Fashion & Retail.

Meanwhile, the exchange said that VKJ Infradevelopers will be migrated to the mainboard platform of BSE from the SME platform effective from tomorrow.

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