"We are divesting our 100 per cent holding of Grasim Bhiwani Textiles Ltd (GBTL), a wholly owned subsidiary to Donear group," a company statement said, without disclosing the deal value.
GBTL has been primarily engaged in the business of manufacturing and marketing of polyester-viscose fabric. It constitutes a very small proportion of Grasim's consolidated financials with a revenue / EBITDA share of less than 1 per cent, the release said.
This divestment is the outcome of business portfolio review exercise from time to time. It is in the direction of consolidation and greater focus on core businesses of the company.
Given the size of Grasim's total operations, GBTL's divestment will have a negligible impact on the company's financials, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app