Karsanbhai Patel's risk-taking abilities are on display once again.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
Azim Premji and his family gave away Rs 7,904 crore (Rs 79.04 billion) in philanthropy, up 1,645 per cent!!! over the previous year.
Government and the media do not communicate enough, thinks the man who manages India's largest media company.
Top 100 billionaires see their wealth rise 10%; top 20 account for half of total wealth of top 100.
Many see Nirma's Lafarge deal as some kind of second coming for the Patels.
Nirma detergent brand has shed its affordable tag for a more premium positioning against Surf, as rival Ghadi consolidates its position as a mass-market player.
The store that made Prime Minister Narendra Modi's monogrammed suit in Ahmedabad are now flooded with requests from people who want similar attire, finds out Sabu Cherian
Nirma has jumped into the ongoing cricket spectacle - IPL - as the principal sponsor for the Virat Kohli-led Royal Challengers Bangalore to raise awareness and recognition for the cement brands it acquired after its purchase of the erstwhile Lafarge India's assets in 2016
Now with 13-14 million-tonne capacity, Nirma will emerge as a serious player in India's cement landscape.
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The mascot has gone off air now, but not before helping the Gujarat-based detergent brand script the perfect win for an underdog in the eighties.
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