Due to the high stamp duty charges that Indal's merger with Hindalco would attract, the AV Birla group is unlikely to merge the two companies in the near term. The plan was announced recently by the group as a part of restructuring exercise to consolidate its non-ferrous metals business. For now, Indal will remain a wholly owned subsidiary of Hindalco, delisted from the bourses after the completion of the open offer to buy all outstanding shares from the market.
NSTL
