Thomas Verghese

Grasim to Acquire Soktas India for Rs 165 Crore

Soktas India Private Limited (SIPL) has presence in the premium fabrics segment under the brand name of SOKTA, Giza House and Excellence by SOKTA. The deal would help the Aditya Birla group to strengthen its presence in the segment. The transaction would be funded by the company primarily from its internal accruals and the payment would be subject to net debt and working capital adjustments, as of the closing date, said a joint statement.