Comments
Grasim Industries, an Aditya Birla Group company, has entered into a share transfer agreement with Mumbai-based Donear Group to sell its entire holding in Grasim Bhiwani Textiles, a wholly-owned subsidiary.
Grasim Bhiwani is engaged in the business of manufacturing and marketing of polyester-viscose Fabric. GBTL constitutes a small proportion of Grasim’s consolidated financials with a revenue / EBITDA share of less than one per cent. It registered a consolidated revenue of ₹9,980 crore and Ebitda of ₹2,142 crore in the March quarter.
The divestment is the outcome of the business portfolio review exercise from time-to-time. It is in the direction of consolidation and greater focus on core businesses of the company, said Graim.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.