Grasim Industries agrees to subscribe stake in Aditya Birla Capital

Grasim Industries has agreed to subscribe to the equity shares proposed by Aditya Birla Capital on a preferential basis up to an amount not exceeding Rs 770 crore.

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.