Macquarie Bank has sold 11.25 lakh shares or 0.24 percent stake of Aditya Birla Group firm Grasim Industries for over Rs 146 crore through open market transaction. The shares were sold at an average price of Rs 1,303 apiece, valuing the transaction at Rs 146.58 crore. Moreover, the shares were purchased by India Opportunities Growth Fund - Pinewood Strategy.
Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
