Grasim Industries Ltd said it submitted an alternate proposal to L&T for a vertical demerger of L&T's cement business into a separate company and for making an open offer for acquiring control over the proposed new cement company by Grasim at a price of Rs 130 per share. The company also proposed that the value is based on a combination of methods and the ratio of equity value of the remaining L&T business to the equity value of cement business is 1.25:1.

BSE code: 500300