Aditya Birla Group denies reports of stake acquisition in Crompton Consumer, says info is inaccurate

Crompton Greaves Consumer Electricals and the Aditya Birla Group have denied reports suggesting that the Aditya Birla group is exploring the acquisition of a majority stake in the consumer electricals company, as reported exclusively by CNBC-TV18 quoting sources.

In a response to CNBC-TV18, the Aditya Birla Group said the information referenced in the report was “inaccurate” and categorically denied the story.

Separately, Crompton Consumer clarified to the channel that the company is “not engaged in any such discussions.”

The clarification came after reports suggested that Grasim Industries, an Aditya Birla Group company, was interested in acquiring a majority stake in Crompton Greaves Consumer Electricals. The report had also indicated that the transaction could potentially trigger an open offer and involve a mix of cash and share swap arrangements.

Despite the denial from both sides, Crompton Consumer shares witnessed sharp buying interest during Friday’s trading session. The stock surged nearly 7% to hit an intraday high of ₹310 amid speculation around a potential strategic transaction.

The earlier report had claimed that Crompton Consumer, which operates as a professionally managed company without a single promoter entity, could see a majority stake acquisition through purchases from existing shareholders along with a possible open offer.

However, both the Aditya Birla Group and Crompton Consumer have now publicly denied the claims, attempting to put to rest market speculation surrounding a potential deal.

Crompton Greaves Consumer Electricals is one of India’s leading consumer electrical companies with a strong presence across fans, pumps, lighting and home appliances segments.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice. The details in the article are also from an exclusive report by news channel CNBC-TV18.