The National Company Law Tribunal (NCLT) on Tuesday admitted insolvency proceedings against textile company Alok IndustriesBSE -0.35 %, which owes about Rs 23,000 crore to a consortium of lenders. An application for...
Grasim divests its holding in Grasim Bhiwani Textiles to Donear
Buildings material and textile manufacturer Grasim Industries has entered into a share transfer agreement for the divestment of its 100% holding of its wholly owned subsidiary, Grasim Bhiwani Textiles, to the Mumbai...
Holding company discount may weigh on Grasim merger
Grasim Industries Ltd has been on investors’ radar screens since it announced its fourth-quarter results last month, with all of them eager to get an update on the much-talked about restructuring plan. To give a...
Merger of Grasim and Aditya Birla Nuvo gets NCLT clearance
The merger of Grasim Industries Ltd and Aditya Birla Nuvo Ltd will be completed by the beginning of the next quarter, a top executive at the Aditya Birla group said. Separately, the National Company Law Tribunal (NCLT)...
PE firm WL Ross in talks with China’s Shandong Ruyi to sell OCM India stake
Global distressed assets and special situations investor WL Ross and Co. Llc is in talks with China’s Shandong Ruyi group to sell its entire stake in textile maker OCM India Pvt. Ltd said two people aware of the...
Aditya Birla Nuvo shareholders sign off Grasim merger plan
Shareholders of Aditya Birla Nuvo Ltd, controlled by billionaire Kumar Mangalam Birla, approved plans for a merger with Grasim Industries that would create a firm with $9 billion in combined revenue. About 83 percent of...
Grasim shareholders clear Nuvo merger
Clearing a major hurdle, the minority shareholders of Grasim Industries have given their green signal to the mega-merger proposal with Aditya Birla Nuvo in a shareholders meeting held today in Nagda, Madhya Pradesh. The...
AB Fashion eyes 49% in local arm of Danish apparel maker Bestseller
Old money, says Deal Street, is in hot pursuit of fast fashion for the young. The Aditya Birla Group, founded before the Crown formally began her reign over India, is in talks with Danish apparel company Bestseller A/S...
Voting on Grasim-Aditya Birla Nuvo merger to begin 6 March
Shareholders of Grasim Industries Ltd will begin voting on the company’s proposed merger with Aditya Birla Nuvo Ltd on 6 March. Voting will remain open for 30 days until 5 April, according to a stock exchange notice...
Murjani Group looks beyond French Connection, trying to sell FCUK line in India
The brave and bold four-lettered logo, embossed on the collarless tee, now needs a new patron in India as FCUK’s existing licence holder is looking beyond French Connection for fresh ideas in fashion. “The Murjani...
Welspun India to invest $3 mn on promotion of Egyptian cotton
After a one-time hit of Rs 501 crore on its balance sheet, home textile major Welspun India has initiated damage control measures to regain the credibility it lost when leading US chains Target and Walmart pulled out...
Welspun to invest Rs 4k cr on textile projects in Gujarat
Diversified Welspun Group today said it would invest Rs 4,000 crore on three large textile projects in Gujarat. Welspun India said in a BSE filing that three MoUs are being signed with the state government at the...
