Grasim Industries Limited has announced the incorporation of its new subsidiary, UHG Holdings IFSC Private Limited. Established in the Gujarat International Finance Tec-City (GIFT City) on August 20, 2026, this move is part of Grasim’s strategy to strengthen its business and operational network. The subsidiary is governed by the International Financial Services Centres Authority Act, 2019, and related regulations.
Grasim Industries Establishes New IFSC Subsidiary
Grasim Industries Limited announced on August 21, 2026, the incorporation of a new entity, UHG Holdings IFSC Private Limited. This subsidiary has been established in the International Financial Services Centre (IFSC) located in Gujarat International Finance Tec-City (GIFT City). The incorporation date for UHG Holdings IFSC Private Limited was August 20, 2026.
Strategic Business Objective
The primary objective behind the incorporation of UHG Holdings IFSC Private Limited is to enhance and strengthen the overall business and operational network of Grasim Industries. The company will operate under the framework of the International Financial Services Centres Authority Act, 2019, and the International Financial Services Centres Authority (Finance Company) Regulations, 2021, among other applicable regulations within the IFSC jurisdiction.
Ownership and Investment Details
UHG Holdings IFSC Private Limited was incorporated with an authorized share capital and a paid-up share capital of ₹10 per share. The shareholding is distributed among three entities: UltraTech Cement Limited (a subsidiary of Grasim Industries) holds 41,000 shares representing 41%, Hindalco Industries Limited holds 50,000 shares representing 50%, and Grasim Industries Limited itself holds 9,000 shares representing 9% of the paid-up share capital. The total consideration for these shares amounts to ₹4,10,000 for UltraTech Cement, ₹5,00,000 for Hindalco Industries, and ₹90,000 for Grasim Industries.
Scope of Operations
The newly incorporated entity is intended to engage in activities such as purchasing, leasing, sub-leasing, chartering, hiring, owning, and operating aircrafts, ships, ocean vessels, and other modes of transportation. These operations will be conducted in accordance with the applicable regulations within the IFSC jurisdiction.
Source: BSE
