You are here: Home » Companies » News
Business Standard

Grasim Industries divests stake in its Bhiwani Textiles to Donear Group

Grasim Inds has entered into a share transfer agreement with Donear group of Mumbai

Press Trust of India  |  Mumbai 

Grasim Industries (Aditya Birla Group)
Grasim Industries (Aditya Birla Group)

Limited, a flagship company of the Aditya Birla Group, on Monday said it has entered into a share transfer agreement for the of its 100 per cent holding of Grasim Bhiwani Textiles Limited (GBTL), a wholly owned to Donear group of

"We are divesting our 100 per cent holding of Grasim Bhiwani Textiles Ltd (GBTL), a wholly owned to Donear group," a company statement said, without disclosing the value.


has been primarily engaged in the business of manufacturing and marketing of polyester-viscose fabric. It constitutes a very small proportion of Grasim's consolidated financials with a / share of less than 1 per cent, the release said.

This is the outcome of business portfolio review exercise from time to time. It is in the direction of consolidation and greater focus on core businesses of the company.

Given the size of Grasim's total operations, GBTL's will have a negligible impact on the company's financials, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU