One of Aditya Birla’s cos is heading for a London Stock Exchange listing soon
Advertisement
Chairman of the Aditya Birla group , Kumar Mangalam Birla said they are going to list Mauritius-based holding company for carbon black SKI Carbon Black (India) Pvt Ltd in overseas markets, after consolidating the business.
The company will be either listed inLondon Stock Exchange or New York Stock Exchange and it will take at least two years.
Carbon black is a raw material used to make tyres and ink.
The SKI Carbon Black’s listing would be the first listing by the group in the overseas market after Birla took over in 1995.
Under Birla, the company went on to become world's largest carbon black maker with 2-million tonne capacity a year.
Experts point out that after the listing, company will get a better leverage ratio and capital to expand both in India and overseas.
Reportedly, in 2013, Aditya Birla Nuvo Ltd had divested its carbon black business to SKI Carbon Black (India) Pvt. Ltd, for Rs 1,451 crore.
The company had then said in a filing to the BSE the Aditya Birla Nuvo's carbon black business, by itself, accounts for merely 2% of the global industry capacity.
Moreover, in view of the company's capital commitment towards funding growth of its other businesses, it is extremely challenging for the company to become a global carbon black player.
Advertisement
The company will be either listed in
Carbon black is a raw material used to make tyres and ink.
The SKI Carbon Black’s listing would be the first listing by the group in the overseas market after Birla took over in 1995.
Under Birla, the company went on to become world's largest carbon black maker with 2-million tonne capacity a year.
Advertisement
Reportedly, in 2013, Aditya Birla Nuvo Ltd had divested its carbon black business to SKI Carbon Black (India) Pvt. Ltd, for Rs 1,451 crore.
The company had then said in a filing to the BSE the Aditya Birla Nuvo's carbon black business, by itself, accounts for merely 2% of the global industry capacity.
Moreover, in view of the company's capital commitment towards funding growth of its other businesses, it is extremely challenging for the company to become a global carbon black player.
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more
- Regenerative farming, cover crops will help farmers increase yields, reduce stubble burning: IDH CEO