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...
Arvind raises Rs 740 crore by diluting stake in fashion arm
NEW DELHI: Textiles and branded apparel major Arvind Ltd on Monday said that it has raised Rs 740 crore from the market by diluting stake in subsidiary — Arvind Fashions Ltd. The company has completed the...
Arvind sells 10% in retail arm for Rs 740 crore to Multiples
MUMBAI: Textiles firm Arvind has raised Rs 740 crore by selling 10% stake in its retail arm to Multiples, a private equity firm, in an effort to pare debt. The retail division houses more than two dozen in-house and...
Foreign investors can buy up to 30% stake in Aditya Birla Nuvo
MUMBAI: Foreign investors have been allowed to raise their stake in Aditya Birla Nuvo to up to 30 percent. “Foreign Institutional Investors/Registered Foreign Portfolios Investors can under the portfolio...
LIC trims stake in Raymond to 5.53%
NEW DELHI: State-owned Life Insurance Corporation (LIC) has reduced its stake in fabrics and garments firm Raymond LtdBSE 0.49 % by 2.01 per cent, by selling 12.34 lakh shares in the open market. LIC, which had 7.54 per...
Century may merge textiles biz with Aditya Birla Fashion
Century Textiles and Industries, once a star among Indian investors, is looking to demerge its textile business. It may merge it with Aditya Birla Fashion & Retail (ABFRL) to bring the entire textile and fashion...
Vardhman Textiles dilutes 40% in Vardhman Yarns and Threads
Ludhiana-based vertically integrated textile group, Vardhman Textiles Limited, has sealed a share sale and purchase agreement (“SPA”), an amended and restated shareholders agreement, and other incidental and...
Grasim-Nuvo merger helps promoters shore up holding
The proposed merger between Grasim Industries and Aditya Birla Nuvo (ABNL) is in line with the group’s long-term strategy to shore up promoter holding to 40 percent in all listed entities. In May 2004, group chairman...
