Aditya Birla group ready to sell fertiliser arm

Grasim, which merged Aditya Birla Nuvo's operations with itself, to exit all low-margin businesses

Dev Chatterjee  |  Mumbai 

The stage is set for the sale of the fertiliser business of Aditya Birla group company Grasim, which has merged Aditya Birla Nuvo’s operations with itself. Bankers said two companies had shown interest in buying the business, which was likely to fetch Grasim close to Rs 3,000 crore. The fertiliser industry depends on government subsidies that are released a couple of quarters late, affecting margins.   A Birla group source said the sale was line with the group’s policy of consolidation and focus on core businesses. The fertiliser business, then ...

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