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Grasim Industries sells fertiliser business to Indorama Corporation

13 Nov 2020 Evaluate

Grasim Industries has sold its fertilisers business to Indorama Corporation for Rs 2,649 crore. Grasim Industries' board approved the divestment of the company's fertiliser business, Indo Gulf Fertilisers, by way of a slump sale to Indorama India (IIP), a subsidiary of Indorama Corporation Pte., Singapore.

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.

Peers
Company Name CMP
Grasim Industries 3067.50
DCM Shriram 913.70
3M India 31965.00
Hindustan Foods 577.95
Balmer Lawrie & Co 161.25
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