UltraTech CementNSE 2.05 % is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis, the company said on Friday, while notifying the exchange NSE 0.00 % of...
Binani Cement’s acquisition can make UltraTech market leader in north India
Acquisition of Binani Cement, subject to approval, is poised to make UltraTech Cement the market leader in the north Indian cement market overtaking the current market leader Shree Cement. According to sector analysts...
Shree Cement plans to close United Cement deal by July
Shree Cement Ltd, one of India’s top three cement makers, has budgeted for a capital expenditure of ₹3,500 crore in the current financial year, which includes ₹2,000 crore to be spent to conclude the acquisition of a...
IBC Ordinance: Dalmia may appeal to NCLT or courts, citing govt’s stand
The Insolvency and Bankruptcy Code (IBC) Amendment Ordinance, promulgated on Wednesday, bans late bids in order to resolve the impasse in cases such as Binani Cement, where UltraTech Cement and Dalmia Bharat are...
Insolvency: NCLT verdict on UltraTech Cement proposal likely by July 10
The Kolkata bench of the National Company Law Tribunal (NCLT) is expected to pass its verdict on UltraTech Cement’s plan before July 10 for acquiring the stressed assets of Binani Cement just before the “daily hearing...
Insolvency: UltraTech keeps options open for Binani Cement takeover
UltraTech Cement is keeping its options open regarding Binani Cement’s stressed assets, on other than the legal insolvency process. This is despite it becoming the new H1 bidder under the law’s framework, replacing the...
Insolvency: Binani Cement submits UltraTech plan for NCLT approval
After the resolution professional (RP) of Binani Cement submitted the resolution plan of UltraTech Cement’s Rs 79.60 billion offer for approval from the Kolkata bench of the NCLT on Friday, Dalmia Bharat Cement also...
Orient Cement calls off Rs 2,000 cr deal to acquire 2 units from Jaypee
In a setback to crisis-hit JaypeeNSE 0.00 % group, the CK Birla Group firm Orient Cement has terminated its Rs 1,946-crore deal to acquire Jaiprakash Associates Ltd’s (JAL) two firms — Bhilai Jaypee Cement...
Have got LoI from Binani lenders to acquire it, says UltraTech
The lenders of Binani CementNSE 0.00 % have issued letter of intent to UltraTech after approving its bid to acquire the company under the bankruptcy code, Aditya Birla group firm said today. The Committee of Creditors...
Binani Cement lenders vote in favour of UltraTech bid
UltraTechNSE 0.46 % appears to have won the race for Binani CementNSE 0.00 % after lenders, in a marathon, seven-hour meeting on Monday decided to sell the bankrupt cement maker to the country’s biggest cement producer...
Dalmia wants to vet UltraTech’s resolution plan for Binani Cement
Dalmia BharatNSE -3.46 % has written to lenders and RP of Binani CementNSE 0.00 % asking them to reveal to Dalmia the resolution plan submitted by UltraTechNSE -1.43 % for them to “examine the various assumptions...
Dalmia Bharat not to revise bid for Binani Cement
The Dalmia Bharat Group-backed consortium has decided not to revise its bid to match that of UltraTech for acquiring the stressed assets of Binani CementNSE 0.00 %. The deadline for the consortium offered by the...
