GHCL to sell home textiles biz to Indo Count

Chemicals major GHCL Ltd said it is divesting its home textiles business to Indo Count Industries Ltd for Rs 596 crore. The company had initiated the process of carving out its textiles business into GHCL Textiles Ltd, in order to segregate both businesses and to have two separate listed entities with mirror shareholding. In the interim, GHCL has got an opportunity to unlock value of its home textiles, it said.