Grasim to raise Rs 4k crore through rights issue

Grasim Industries, a flagship company of the Aditya Birla Group, plans to raise Rs 4,000 crore through a rights issue of equity shares. The funds will be used for ongoing capital expenditure, repayment of existing borrowings, and general corporate purposes. The company stated that the promoters and promoter group have confirmed their participation in the rights issue.