Business Standard

Grasim Industries to sell fertiliser biz to Indorama Corp for Rs 2,649 cr

It's a slump sale and a major value-unlocking exercise for Grasim, allowing it to pursue growth opportunities in its core businesses

Fertiliser movement through coastal shipping now eligible for subsidy

The divestment of the fertiliser business is a significant value unlocking exercise for Grasim. It will further enable the company to pursue growth opportunities in its core businesses.

Aditi Divekar Mumbai
Aditya Birla Group's Grasim Industries, on Thursday agreed to sell its fertiliser business, Indo Gulf Fertilisers (IGF), by way of a slump sale to Indorama India Private Ltd (IIP) for a cash consideration of Rs 2,649 crore.

Under section 2(42C) of Income -tax Act 1961, a 'slump sale' means the transfer of one or more undertakings for a lump sum amount, without values being assigned to individual assets and liabilities.

IIP is a subsidiary of Indorama Corporation Pte. Ltd, Singapore (Indorama Corporation).  

Indo Gulf Fertilisers is engaged in manufacturing, trading, and sale of urea and other agri-inputs with a 1.2

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First Published: Nov 12 2020 | 6:08 PM IST

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