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Garsim Industries Ltd, Aditya Birla Group firm, is going to sell its wholly owned subsidiary Grasim Bhiwani Textile to Rajendra Synthetics which is a part of Donear Group for an undisclosed amount.
The company has said in a statement that its is a part of the company’s strategy for consolidating its focus on the core business.
The company’s board has provided its approval to the agreement to transfer 100 percent stake in Grasim Bhiwani Textiles Ltd (GBTL) to Donear Group.
Grasim Industries said in a regulatory filing that “The company has entered into a definitive agreement for divesting the company’s total investment in GBTL to Rajendra Synthetics Pvt Ltd, Mumbai (part of Donear Group).”
