Aditya Birla group reportedly aims to hike stake in group companies. The group may spend Rs 6000 crore to hike stake in Hindalco & Grasim to 40-45%. Further while, the group plans to buy 8% stake in Hindalco, valued at Rs 1955 crore at Current Market Price (CMP), the purchase of 19.5% stake in Grasim would cost the group a sum of Rs 4600 crore at CMP. Meanwhile, the current promoter holding in Hindalco and Grasim stand at 37% and 25% respectively.
Hindalco Industries, the metals flagship company of the Aditya Birla Group, is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
