Polycab sells copper plant to Hindalco for Rs 168 cr plus debt

Polycab India Limited, one of the best performing mid-sized companies in India and a maker of electrical goods, said it has decided to sell its copper rod manufacturing business to metal refiner Hindalco Industries, part of the Aditya Birla group of companies. Polycab said it decided to take this step as Hindalco would be better […]

Aditya Birla Fashion and Retail buys controlling stake in Sabyasachi

Aditya Birla Fashion and Retail has taken a controlling stake in designer brand Sabyasachi for Rs 398 cr, adding to its existing portfolio of brands that include Louis Philippe, Van Heusen, Allen Solly and Peter England. It will buy a 51% stake in the company founded by Sabyasachi Mukherjee in 1999. “Sabyasachi is India’s largest […]

Hindalco to build 3rd aluminium extrusions plant at Silvassa

Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]

Aditya Birla Fashion buys ethnic retailer for Rs 110 crore including debt

Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells “handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents”, for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company’s valuation, nor did it give […]

Grasim buys Kolhapur-based fabrics maker for Rs 165 cr

Aditya Birla Group firm Grasim Industries Limited on Wednesday said it agreed to buy fabrics manufacturer Soktas India Private Ltd for an enterprise value of Rs 165 crores. The equity valuation of the acquired company was not disclosed, nor did Grasim reveal how much it would pay as part of the transaction. The Kolhapur-based company, […]

Vodafone Idea promoters to invest Rs 18,250 cr via rights issue

Vodafone will invest Rs 11,000 cr into its Indian subsidiary Vodafone Idea, while its co-promoter Aditya Birla Group will chip in Rs 7,250 cr, the company said today. In total, Vodafone Idea plans to raise Rs 25,000 cr from all its shareholders by selling shares. In case any of the existing shareholders waives their right […]

AU Small Finance Bank to distribute Aditya Birla Health insurance

AU Small Finance Bank has tied up with Aditya Birla Health Insurance to to distribute the latter’s health insurance products. The bank will act as a corporate agent, it said. “This tie up shall be mutually beneficial for ABHICL & AU SMALL FINANCE BANK in terms of business, market penetration and reach,” it said. Aditya […]

Grasim-Adiya Birla Nuvo merger approved, ABFSL listing soon

The Aditya Birla Group said it got the approval of the Company Law Tribunal for the merger of Aditya Birla Nuvo Ltd and Grasim industries Ltd and the listing of Aditya Birla Financial Services Ltd. The approval was obtained from the Ahmedabad bench. “The approved Scheme has been filed with the BSE and the NSE. […]

Vodafone Idea merger to save Rs 7,000 cr per year; one-time cost Rs 3,000 cr

The Idea Cellular-Vodafone merger announced today will save about Rs 14,000 cr in operating expenses per year for the combined entity after four years of merger, the two companies said. However, due to the applicability of spectrum caps on the combined entity, the deal will also cost Rs 3000 cr in present value in terms […]

Aditya Birla´s fashion and retail unit ties up with UK luxury brand Ted Baker

Aditya Birla Fashion and Retail Ltd said it entered into agreement with UK based fashion brand Ted Baker. Ted Baker London is a British luxury clothing retail company. “We are happy to join hands with Ted Baker and build a strong presence for the brand with Indian consumers. This partnership will enable our consumers to […]

NSE seeks details on reported Aditya Birla and Future Group merger talks

The NSE today has sought clarification from Aditya Birla Fashion and Retail (ABRL) on whether any negotiations for merger has taken place with Kishore Biyani’s Future Group. The exhange’s request for clarification has come after a report in the Economic Times. The report said that Biyani’s Future Group was in early discussion with ABRL to […]