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

03 Apr 2025 CW Team

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.

Infrastructure Transport

10 Feb 2026

MIC Electronics Bags Rs 14.6 Million Order from Northern Railways

MIC Electronics has received a Letter of Acceptance from Northern Railways for passenger information and telecom infrastructure works valued at Rs 14.6 million.The project scope includes the supply, installation, testing and commissioning of a comprehensive passenger information and backend telecom system to support real-time train and platform information across railway premises. This includes LED-based coach guidance display boards, train formation “at-a-glance” displays, GPS-based platform clocks and indoor display units, all conforming to RDSO specifications.The order also covers..

VinFast Enters Indonesia E-Scooter Market, Signs Dealer MoUs

VinFast has officially entered Indonesia’s e-scooter market after signing Memoranda of Understanding with a network of strategic local dealers, marking a key step in the company’s international expansion of electric two-wheelers.VinFast has partnered with K3, Citra Abadi Sedaya, PT Bevos Auto Mandiri, PT Sapta Jaya, MotorArt, PT Sinergies Dua Kawan and PT HINU, all of which have established experience in automobile and motorcycle distribution. The company said the partners bring strong market knowledge and operational capabilities aligned with VinFast’s retail and service standards.The c..

Rustomjee Restores Wadia Clock Tower in Mumbai’s Fort

Rustomjee Group has completed the restoration of the 19th-century Bomanjee Hormarjee Wadia Clock Tower in Mumbai’s Fort area, reviving one of the city’s historic public landmarks through a collaboration with the Kala Ghoda Association.Built in 1882 as a tribute to philanthropist Bomanjee Hormarjee Wadia, the basalt stone clock tower and fountain stands at the junction of Bazaar Gate Street and Perin Nariman Street. The restored landmark was inaugurated on 9 February 2026 by Boman Rustom Irani, Chairman and Managing Director of Rustomjee Group, and Brinda Miller, Chairperson of the Kala Gho..