+
Aditya Birla Real Estate Sells Pulp & Paper Unit to ITC for Rs 34.98 Bn
Real Estate

Aditya Birla Real Estate Sells Pulp & Paper Unit to ITC for Rs 34.98 Bn

Aditya Birla Real Estate Limited (ABREL) has announced the sale of its Pulp and Paper plant in Lalkuan, Uttarakhand, to ITC Limited for Rs 34.98 Bn, marking a strategic move to sharpen its focus on core real estate operations.

The transaction, structured as a lump sum payment, remains subject to legal and regulatory approvals, including clearance from the Competition Commission of India (CCI) and shareholder consent.

For this deal, JM Financial Limited acted as financial advisor, while AZ & Partners provided legal counsel to ABREL.

With this divestment, ABREL reaffirms its commitment to real estate expansion, aiming to enhance shareholder value and strengthen its presence in the sector.

Aditya Birla Real Estate Limited (ABREL) has announced the sale of its Pulp and Paper plant in Lalkuan, Uttarakhand, to ITC Limited for Rs 34.98 Bn, marking a strategic move to sharpen its focus on core real estate operations. The transaction, structured as a lump sum payment, remains subject to legal and regulatory approvals, including clearance from the Competition Commission of India (CCI) and shareholder consent. For this deal, JM Financial Limited acted as financial advisor, while AZ & Partners provided legal counsel to ABREL. With this divestment, ABREL reaffirms its commitment to real estate expansion, aiming to enhance shareholder value and strengthen its presence in the sector.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code