In 2016, the Board of Grasim Industries Limited (“GIL” or “Assessee”), Aditya Birla Nuvo Limited (“ABNL”) and Aditya Birla Financial Services Limited (“ABFSL” or “ABCL”) approved a composite scheme of arrangement of the...
Grasim Industries sells fertiliser business to Indorama
Aditya Birla Group’s flagship company Grasim Industries, which is the world's largest producer of viscose rayon fiber, has sold its entire fertiliser business to Indorama Corporation for Rs 2,649 crore in cash. The...
CCI imposes Rs 302 cr penalty on Grasim Industries
The Competition Commission has slapped a penalty of Rs 302 crore on Grasim Industries for abusing its dominant position with respect to supply of a certain staple fibre to spinners. Besides, the company has been...
Grasim forms JVC with German power engineering company MR
Aditya Birla group owned Grasim is forming a joint venture in India with Germany-based Maschinenfabrik Reinhausen for manufacturing and selling composite hollow core insulators (CHCI) that caters to industries like the...
Grasim buys Soktas India for ₹165 crore
Grasim Industries Ltd on Wednesday said it has signed a definitive agreement to acquire 100% equity shareholding of Soktas India Pvt. Ltd (SIPL) from its current promoters for an enterprise value of ₹165 crore. The...
Grasim to acquire chlor-alkali business of KPR Industries for Rs. 253 crore
Aditya Birla Group firm Grasim Industries Ltd on Monday said it has inked a pact to acquire chlor-alkali business of KPR Industries by way of a slump sale for a cash consideration of ₹253 crore. The company, which has...
Grasim to invest Rs13,000 crore in textile, cement business
Aditya Birla Group firm Grasim Industries will invest over Rs13,000 crore in its textile and cement businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, a senior...
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)...
Labour union alleges big scam in L&T cement sale to Grasim in 2005
A labour union on Thursday alleged many irregularities in the 2004-05 sale of Larsen & Toubro’s cement business to Grasim and accused outgoing chairman AM Naik of cornering Rs 600 crore from the transaction...
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...