New Delhi, July 15 -- Mumbai: The $1.8 billion acquisition of Sprng Energy by Aditya Birla Renewables brings the spotlight on Grasim Industries, the Aditya Birla Group's flagship holding and incubation company. Once known primarily for semi-synthetic yarn and chemicals, Grasim today owns, backs or incubates many of the conglomerate's key businesses: from cement and financial services to paints, renewables and B2B commerce.

Incubated by Grasim in 2011, Aditya Birla Renewables on Monday announced the acquisition of Sprng Energy from Shell Plc for an enterprise value of $1.8 billion, making it one of the country's largest renewable energy players overnight.

The transformation has been years in the making. Through acquisitions, investments ...