Grasim Industries has signed an agreement to acquire 100% equity shareholding of Soktas India (SIPL), from its current promoters, for an enterprise value of Rs 165 crore. The transaction will be funded by the company primarily out of internal accruals. SIPL will become a wholly owned subsidiary of Grasim Industries upon completion of the transaction.
SIPL is in the business of manufacturing and the distribution of premium cotton fabrics. Its state-of-the-art manufacturing facility is located at Kolhapur, in state of Maharashtra. Its plant capacity is about 10 million metres per annum of finished fabric.
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
| Company Name | CMP |
|---|---|
| Grasim Industries | 2718.25 |
| DCM Shriram | 1225.85 |
| 3M India | 31394.15 |
| Hindustan Foods | 509.15 |
| Balmer Lawrie & Co | 176.20 |
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