Reliance IndustriesBSE 1.53 % has tied up with VF Corporation, one of the world’s largest denim makers, to manufacture moisture control products for the latter’s Wrangler brand to be sold in the Asian market...
LIC reduces stake in Raymond by 2%
State-owned Life Insurance Corporation (LIC) has reduced its stake in textile and apparel major Raymond by 2.01%, selling 12.37 lakh shares in the open market. LIC, which had 5.53% stake earlier, brought down its...
TPG Growth, Havells’ QRG buy 20% of footwear brand Campus for Rs 1,500 crore
TPG Growth, the growth equity platform of American investment firm TPG, and QRG, the family office of the promoters of Havells Group, acquired a significant minority stake in casual sports and footwear brand Campus...
Piramal-Bain stressed assets unit, AION Capital eye Alok Industries stake
Debt-laden textile maker Alok Industries Ltd, which is currently in bankruptcy court, has caught the eye of financial investors. A distressed asset investment platform by Piramal Enterprises Ltd and private equity fund...
Advent International buys significant stake in Dixcy Textiles
Global private equity fund Advent International has acquired a significant stake in leading innerwear company Dixcy Textiles for an undisclosed sum, betting on the fast-growing category that has seen unprecedented...
NCLT Court admits Alok Industries for bankruptcy
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...
