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Birlas to Raise Stake by 11 Percent; Expands Carbon Black Business

According to an article in the Hindustan Times, the Birlas plan to raise their stake in Aditya Bira Group by 11% to 50% through a proposed preferential allotment. The plan will pump Rs 4,200 crore (US$1.8 billion) into the company, which will be used by Aditya Birla Nuvo to fund expansions in its various businesses. The company will hold a meeting on February 6 to obtain approval for the proposal.

Garments, carbon black and insurance would take a major slice of the proposed investments. The insurance business, for instance, is expanding its distribution network. Madura Garments is setting up new showrooms across the country. This requires an investment of Rs 500 crore. One more plant is being set up at Patalganga for the carbon black project at an estimated investment of Rs 300 crore.

(Emphasis mine.)

Back in September 2007, Birla detailed an ambitious expansion program for its carbon black business in an article in The Economic Times. The program includes the new plant in India (Patalganga), which will be further expanded in coming years, as well as doubling current capacities in both China and India. The program also includes the proposed plant in Mexico.

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