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Grasim Industries
Grasim Industries, the flagship company of the Aditya Birla Group, on Tuesday announced entering into three term loan agreements totalling Rs 5,000 crore to finance capital expenditure and repayment of existing loans. It has executed agreements for a secured loan of Rs 4,850 crore and two unsecured loans of Rs 70 crore and Rs 80 crore, Grasim Industries said in an exchange filing. "The company has entered into three Term Loan Agreements on April 3, 2023, to avail the Rupee Term Loan facility aggregating to Rs 5,000 crore from Axis Bank Limited in terms of the approval by the Finance Committee of the Company," it said. The rupee term loans "are of 10 years tenor", it added. It will utilise Rs 4,850 crore loan for capital expenditure, reimbursement of capital expenditure already incurred in the last 12 months or re-payment of existing borrowings. While the other two unsecured term loans worth Rs 150 crore "shall be utilised for capital expenditure of identified projects," it ...
Grasim Industries, the flagship company of Aditya Birla Group, would invest Rs 3,117 crore on its existing businesses in FY23, its Chairman Kumar Mangalam Birla said on Monday. This investment would be towards capacity creation and modernisation of plants. "For FY23, your company has earmarked Rs 3,117 crore for the existing lines of businesses excluding the paints and B2B e-commerce business," said Birla while addressing shareholders of the company. About the company's "strategic foray" into paints and B2B e-commerce, he said these are decisive steps for a strong growth. "Both paints and B2B E-commerce businesses complement the existing lines of business within the Grasim umbrella. They cater to a large market, offer access to new customer pools, and hold the promise of creating sustained stakeholder value," he said. The company's board has already approved a total capex of Rs 10,000 crore for the paints business, out of which Rs 605 crore has been spent till FY22, he ...