Grasim Industries, with group companies UltraTech Cement (41%) and Hindalco Industries (50%), has incorporated UHG Holdings IFSC Private Limited.

Grasim holds a 9% stake with an initial investment of Rs 90,000 (total initial capital Rs 10 Lakhs). This new entity, based in GIFT City, will focus on leasing and operating transportation assets like aircrafts and ships.

This strategic move aims to strengthen the group's business network and leverage the International Financial Services Centre for specialized financial activities, potentially offering new growth avenues or supporting existing operations within the Aditya Birla Group.