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Shareholders Approve Grasim-ABNL Merger
Apparel and Textile News Trade Info News

Shareholders Approve Grasim-ABNL Merger

Minority shareholders of Grasim Industries and Aditya Birla Nuvo Ltd (ABNL) have approved the mega merger of the two companies to create a nearly Rs. 60,000 crore diversified entity. “The shareholders of both the companies at their meetings recently have approved the scheme of amalgamation of ABNL with Grasim,” Kumar Mangalam Birla-led ABNL said in […]

Soma Textiles Closes Its Spinning Unit
Apparel and Textile News Trade Info News

Soma Textiles Closes Its Spinning Unit

Ahmedabad based Soma Textiles & Industries has closed down its spinning unit because of high operative cost and other factors. “In the present scenario of textile industry, it is not viable to continue spinning and winding unit/department at the company’s textile unit at Ahmedabad because of its high operative cost and other adverse factors,” Soma […]

Mafatlal
Apparel and Textile News

New CEO At Mafatlal Industries

Century old textile manufacturer Mafatlal Industries has appointed Aniruddha Deshmukh as company’s new chief executive (CEO) and managing director. Mumbai-based Mafatlal Industries announced the appointment at the company’s board meeting yesterday. Before joining at Mafatlal, Deshmukh was president of textiles division at Raymond Limited. A company that manufactures denims, sarees had posted annual net profit […]

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Indian Terrain Fashions To Raise Rs. 75 Crore

Chennai based apparel retailer, Indian Terrain Fashions Ltd. proposes to raise Rs. 75 crore through issue of securities or qualified institutions placements (QIP’s). In a filing with BSE, the retailer said it will raise the amount either through issuance of securities including equity shares or other securities convertible into equity shares, including through a public […]