Kolkata: Kumar Mangalam Birla is further consolidating investments in group companies under Birla Group holdings . As per stock exchange filings, Birla Family Investments, Birla TMT Holdings, Umang Commercial Company, Aditya Birla Online Fashion, Sunbeam Trading and Infocyber India will be merged with Birla Group Holdings (BGH). It has already got nod from the National Company Law Tribunal in this regard.
In 2019, Birla started consolidating group investment/holding companies under a few heads. He merged Trapti Trading, TGS Investments, Turquoise Investments and Finance and a few other entities with BGH. The companies which were merged into BGH had substantial stake in major group entities like Grasim, Hindalco, Aditya Birla Capital, Century Enka, Aditya Birla Fashion and Retail.
The second round of consolidation will have impact on seven companies, including Jay Shree Tea and Industries, which is run by Jayshree Mohta, Kumar’s aunt and elder daughter of the legendary Basant Kumar Birla . The other companies are Hindalco, Aditya Birla Fashion & Retail, Grasim Industries, Century Textiles & Industries and Century Enka. Some major groups like Singhanias had earlier consolidated group holdings into one or few companies two decades back.
Following the restructuring, Umang Commercial would be merged with BGH. Umang Commercial had 0.2% stake in Jay Shree Tea, which will now be under BGH.
In Hindalco, BGH has 1.1% stake while Umang Commercial has 1.2% stake.
Both the holdings will.
