Century Textiles and Industries

Century Textiles & Industries and Grasim Industries incorporated a joint venture company, Birla Advanced Knits, on 14 July 2021 to manufacture Man Made Cellulosic Fibre (MMCF) knit fabrics. Each party will hold 50% equity.

UltraTech Cement declared the scheme of arrangement with Century Textiles & Industries effective, acquiring its cement business. UltraTech will issue 1 share for every 8 shares of Century, strengthening its leadership in India.

Ultratech Cement will complete the merger of Century Cement's cement business during Q2 of fiscal 2020 (by September 2019), adding 13.4 million tonnes of capacity and bringing total capacity to 117.35 million tonnes per annum.

The Calcutta High Court rejected a plea for an injunction by MP Birla Group owners against the demerger process of Century Textiles and Industries' cement business, which is being acquired by UltraTech Cement.

The Competition Commission of India approved UltraTech Cement's acquisition of the cement business of Century Textiles and Industries. The deal, valued at ₹8,561 crore enterprise value plus ₹3,000 crore debt, will increase UltraTech's capacity to 110 mtpa.

UltraTech Cement will acquire the cement business of Century Textiles through a share-swap deal, adding 13.4 million tonnes per annum capacity. The enterprise value is Rs 86.21 billion.

Grasim will attain the right to manage and operate the viscose filament yarn business of Century Textiles and Industries Limited for 15 years, paying a commuted royalty of Rs. 600 crore and a refundable security deposit of Rs. 200 crore.