Grasim Industries has received approval for the acquisition of 26% equity shares of Clean Max Decimus, a Special Purpose Vehicle (SPV) for generation and transmission of renewable energy. Objects of acquisition is to meet the green energy needs; optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. Cost of acquisition is Rs 94.50 lakh. The Board of Directors of the company at its meeting held on April 4, 2024 has approved the same.
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.
