NSE:GRASIM

Market Chatter: Grasim Industries Unit Set to Obtain $1.5 Billion Loan from Mitsubishi UFJ Financial

A unit of Grasim Industries (BOM:500300,NSE:GRASIM), owned by Aditya Birla Group, is set to obtain a $1.5 billion loan from Mitsubishi UFJ Financial Group (TYO:8306), Bloomberg reported citing people familiar with the matter.Aditya Birla Renewables reportedly plans to use the funding to acquire Shell's Solenergi Power, which owns the Sprng Energy group of companies.The acquisition, for which a deal was signed Monday, will add a 5-GWp contracted capacity to Aditya's renewables business.The loan will have an interest rate of around SOFR+1.6% and a term of five years, according to the report, citing the people.Mitsubishi UFJ Financial and Aditya Birla Group did not immediately respond to' requests for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Grasim Industries' Aditya Birla to Buy Sprng Energy from Shell in $1.8 Billion Deal

Grasim Industries' (BOM:500300,NSE:GRASIM) Aditya Birla Renewables signed a definitive agreement to acquire Sprng Energy from Shell plc for an enterprise value of $1.8 billion.The acquisition adds a 5-GWp contracted capacity to Aditya's renewables business and is one of the biggest deals in the Indian market, according to a statement on Monday.The deal, which is being funded through debt and equity from Grasim and BlackRock's Global Infrastructure Partners, is expected to complete within the year, subject to certain conditions.

Grasim Industries Invests INR28.8 Billion in Aditya Birla Capital Share Issue

Grasim Industries (NSE:GRASIM, BOM:500300) subsidiary Aditya Birla Capital (NSE:ABCAPITAL, BOM:540691) allotted 80.9 million equity shares to the company for an aggregate consideration of about 28.8 billion rupees.The shares were issued at 356.02 rupees each on a preferential basis, according to a stock exchange filing on Tuesday. Following the allotment, Grasim's stake in Aditya Birla Capital increased to 52.30% from 52.27%.

Grasim Industries Appoints Textiles CEO Designate

Grasim Industries (NSE:GRASIM, BOM:500300) has appointed Sangeeta Tanwani as CEO (designate) of its textiles business, effective Aug. 1.She will take over as CEO of the textiles business from Nov. 1, according to a Wednesday stock exchange filing.

Grasim Industries Inaugurates First Phase of CPVC Resin Plant in Gujarat

Grasim Industries (NSE:GRASIM, BOM:500300) has inaugurated the first phase of its chlorinated polyvinyl chloride (CPVC) resin manufacturing facility at Vilayat, Gujarat.The Phase 1 unit has a planned capacity of around 50,000 metric tonnes per annum, according to a stock exchange filing. The facility is part of a larger 100,000-metric-tonne CPVC resin project being developed in partnership with Lubrizol Manufacturing India.

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

Jefferies Adjusts Grasim Industries' Price Target to INR3,600 from INR3,440, Keeps at Buy

Grasim Industries Posts Jump in Fiscal Q4 Consolidated Profit

Grasim Industries (NSE:GRASIM, BOM:500300) recorded a rise in its consolidated attributable profit to 19.6 billion Indian rupees in the fiscal fourth quarter ended March 31 from 15.0 billion rupees a year ago.Earnings per share climbed to 28.84 rupees from the year-ago figure of 22.19 rupees, according to a Wednesday filing to the Indian stock exchanges by the manufacturing conglomerate.Revenue from operations in fiscal Q4 increased to 511.0 billion rupees from 442.7 billion rupees a year earlier.The company's board recommended a dividend of 10 rupees per share for the fiscal year ended March 31.