Grasim Industries divests Grasim Bhiwani Textiles to Donear group

Arvind Fashions' interest cost for FY20 was Rs 289 crore, while the operating profit for the same fiscal was Rs 231 crore.

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26 Aug, 2025 12:21

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Aditya Birla Group firm Grasim Industries Ltd will sell its wholly-owned subsidiary Grasim Bhiwani Textiles to Rajendra Synthetics, a part of Donear Group, for an undisclosed amount.

This is a part of the company's strategy to consolidate its focus on the core business, the company said in a statement. The board of the company in a meeting held today approved the agreement to transfer 100 per cent stake in Grasim Bhiwani Textiles Ltd (GBTL) to Donear Group.

"The company has entered into a definitive agreement for divesting the company's total investment in GBTL to Rajendra Synthetics Pvt Ltd, Mumbai (part of Donear Group)," said Grasim Industries in a regulatory filing.

GBTL is primarily in the business of manufacture and sales of Polyester Viscose fabric.

It has a manufacturing facility in Bhiwani Haryana and is spread across the geography through a large network of dealers, agents and retail outlets.

It also has presence in international markets catering to the fabric need of global brands.

"This divestment is the outcome of the business portfolio review exercise time to time. It is in the direction of consolidation and greater focus on core business of the company," it added.

According to Grasim Industries GTBL's "divestment will not have a material impact on the profits of the company" as its contribution is less than 1 per cent in its revenue.

Donear Group is in the textile business for the last 30 years and the GTBL would form a part of their business, it adder.