Grasim Industries, the Aditya Birla Group’s flagship company with a $100-billion market capitalization, is looking to raise ₹2,000 crore at a coupon rate of around 7.21%, sources said.
“Long-term investors are expected to show significant interest in the issue, so I expect it to be oversubscribed,” said one of the sources quoted above. “These companies don’t raise funds very often, and so investors will wait for this.”
Rating agencies Icra and Crisil have assigned AAA rating to Grasim Bond. The rating reflects Grasim’s leading position in the textile and chemical business, its strong financial risk profile and high financial flexibility, being the holding company of major listed companies such as Aditya Birla Group’s UltraTech Cement and Aditya Birla Capital.
Grasim’s entry into the decorative paint business, with an aggregate capital expenditure (capex) of ₹10,000 crore (in fiscal 2023 to 2025), and into the business-to-business (B2B) e-commerce segment, with a total expenditure of ₹2,000 crore (over the next five years), its The business will add size and diversity to the existing standalone,” Crisil said.
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“While this is likely to result in higher profitability in the interim period, the expected healthy cash generation and strong balance sheet provide comfort. However, the company’s ability to execute projects within timelines and budgets, and successfully market its products. Market share, monitor There will be key factors to do,” the rating agency said.
Shares of Grasim Industries closed at ₹2,600 on BSE on Tuesday, down 3.1%.
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