New Delhi, April 1 -- Aditya Birla Real Estate Ltd (ABREL) is divesting its paper division, Century Pulp and Paper, to ITC Ltd in a move that will allow it to sharpen its focus on real estate. According to ABREL, the sale enhances strategic alignment, improves operational efficiency, and unlocks value for shareholders.

The sale consideration of nearly Rs.3,500 crore exceeded expectations. For instance, Antique Stock Broking had valued the paper business at around Rs.3,200 crore, while Nomura Global Markets Research, in its sum-of-the-parts valuation, estimated it at Rs.2,000 crore, based on a 10x FY25 forecasted EV/Ebitda multiple.

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