Aditya Birla group set to exit fertiliser business this year

Sources say two players have submitted final bids with a West Asia-based company leading the race for the division, currently housed in Grasim Industries

The Aditya Birla group is set to exit the fertiliser business, with two players valuing the division at around Rs 3,000 crore. The group had decided to exit online retail and textiles in the last quarter.

According to sources, two players have submitted final bids with a West Asia-based company leading the race for the division, currently housed in Grasim Industries. The sale is part of Chairman Kumar Mangalam Birla’s plans to exit all low-margin businesses that have failed to scale up in the past few years. Besides, delayed payment from the Indian government for selling products at a subsidy was