Grasim Industries divests its arm GBTL to Donear group
The Dollar Business Bureau Grasim Industries Ltd, a company of Aditya Birla Group, will sell its fully-owned arm Grasim Bhiwani Textiles Ltd (GBTL) to Donear Group’s Rajendra Synthetics. However, the amount of the deal has not been disclosed. “We are divesting our 100% holding of Grasim Bhiwani Textiles Ltd (GBTL), a wholly owned subsidiary, to Donear group,” the company said in a statement. The move is part of our time-to-time business portfolio review exercise and our strategy to consolidate the focus on our core business, it said. The company’s board, in a meeting held on Monday, cleared the agreement for transferring 100% stake in GBTL to Donear Group. “The company has entered into a definitive agreement for divesting the company's total investment in GBTL to Rajendra ...
Grasim Industries to raise foreign investment limit to 30%
The Dollar Business Bureau Grasim Industries Ltd, an arm of Aditya-Birla group, has decided to increase the foreign investment limit from the currently approved 24 percent to 30 percent, according to a statement issued by the company. The decision, taken by the shareholders, will put into effect an stated increase in the investment limit for Registered Foreign Portfolio Investors (RFPIs)/Foreign Institutional Investors (FIIs) of the company’s equity share capital. The rise will come into effect after due approval from the Reserve Bank of India (RBI). The change has been brought about to further aid investments by the RFPIs/FIIs into the company’s equity shares. This headroom for increase will be augmented following the merger of Aditya Birla Nuvo Ltd (ABNL) with Grasim Industries, considering the level of ...
CCI approves Future Consumer Enterprise-Grasim deal
The Dollar Business Bureau Competition Commission of India (CCI) has given its approval to the deal of Future Consumer Enterprise’s acquisition of consumer products division of Grasim Industries. The Kishore Biyani-led Future Consumer Enterprise has got the approval of CCI to purchase the business division of consumer products of Grasim Industries, a flagship company of Aditya Birla Group. Future Consumer Enterprise, a part of Future Group, operates some of the most popular retail networks in India and is involved in the business of branding, sourcing, marketing and distribution of grocery, food and FMCG products. A diversified firm, Grasim Industries Ltd is engaged in viscose staple fibre, chemicals and cement, among other products. The consumer product division of the company deals in baby wipes, ...
