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...
Merger will give capital to high-growth biz: Kumar Mangalam Birla
The Aditya Birla group on Thursday announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial...
Ten things to know about AB Nuvo and Grasim Industries merger
NEW DELHI: In a massive rejig, Aditya Birla NuvoBSE -18.40 % has been merged into Grasim IndustriesBSE -1.34 % to unlock value. “The merger will unlock value for shareholders,” said Kumar Mangalam Birla...
Grasim, Nuvo shares tank on merger reports
The Aditya Birla group companies, Aditya Birla Nuvo, Grasim and Idea Cellular lost a combined market value of Rs 5,300 crore on Wednesday following reports the group was merging its two holding companies, Grasim and...
Aditya Birla Group rejig may lead to Grasim-Nuvo merger
MUMBAI: After consolidating its garments business into a single entity last year, the $41-billion Aditya Birla Group is planning another round of corporate reorganisation to unlock value and beef up the balance sheet...
China approves Chinatex merger with COFCO
China’s State Council approved a merger of textile and grains trading group Chinatex Corp with the country’s largest grain processor and trader COFCO Group, the state assets supervisor said on Friday...
