GHCL is divesting its home textiles business to Indo Count Industries for Rs 596 crore. The company had initiated the process of carving out its textiles business into GHCL Textiles, in order to segregate both businesses and to have two separate listed entities with mirror shareholding.
As part of the deal, the transfer of HT business will be made for a consideration of Rs 539 crore, of which fixed consideration is Rs 340 crore and the balance Rs 199 crore is towards net realisable current assets (subject to certain adjustments in accordance with the business transfer agreement to be paid by Indo Count to GHCL).
GHCL is a leading producer of synthetic soda ash in India. Over the years, it has diversified into yarn and home textile products.
Company Name | CMP |
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Tata Chemicals | 1105.65 |
SRF | 2529.20 |
Pidilite Inds. | 2871.05 |
Aarti Inds | 724.50 |
Gujarat Fluorochemic | 3598.00 |
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