As of July 01, 2017, Aditya Birla Nuvo Ltd. was acquired by Grasim Industries Limited. Aditya Birla Nuvo Ltd., together with its subsidiaries, operates in the financial services, telecom, and apparel and accessories businesses worldwide. It operates through Life Insurance; Other Financial Services; Telecom; Branded Apparel and Accessories; Textiles; Agri-Business; Rayon Yarn; Insulators; IT-ITeS, and Others segments. The company offers life and health insurance; asset management, non-bank financial, private equity, equity and commodity broking, wealth management, and general insurance advisory services; telecommunication services; and branded apparel and accessories. It also provides linen yarns and fabrics, worsted yarns, and wool tops; fertilizers, agrochemicals, and seeds; viscose filament yarns, caustic soda, and allied chemicals; insulators; and business process outsourcing and software services. It was formerly known as Indian Rayon And Industries Limited and changed its name to Aditya Birla Nuvo Ltd. in October 2005. The company was incorporated in 1956 and is based in Mumbai, India.