A Dalmia Bharat-Bain Piramal Resurgence Fund consortium leads bids for debt-laden cement maker Binani CementBSE 0.06 %, exceeding Aditya Birla-led UltraTech Cement’s offer by a few hundred crore rupees, said several...
Steel, cement asset bidders can take CCI nod after win, say experts
Tata Steel, JSW Steel, and UltraTech bids for stressed assets in the cement and steel industries, under the Insolvency and Bankruptcy Code (IBC) regulations, will not face hurdles from competition laws, claim experts...
Birla, Dalmia are said to have bid Rs 60 bn each for Binani Cement
Billionaire Kumar Mangalam Birla and an investor group led by Dalmia Bharat Ltd. are emerging as the lead bidders for India’s Binani Cement Ltd., which is being sold under the country’s insolvency process, people with...
Dalmia Bharat set to acquire Kalyanpur Cement
Dalmia Bharat, India’s second-oldest cement company, is set to acquire Patna-based Kalyanpur CementBSE -4.98 % after lenders approved a debt resolution plan aimed at reviving the entity that used to employ more...
Gajanan Oil cries foul on Murli bid, to move NCLT
Gajanan Oil, number two in the race to acquire debt-laden Murli IndustriesBSE -4.51 %, has moved NCLT to challenge the resolution professional’s decision in favour of Dalmia Bharat, citing a last-minute change in...
3 promoters of Star Cement sell 3.34% stake worth Rs182 crore
Star Cement Ltd’s three promoters on Thursday sold 3.34% stake in the firm for Rs182 crore, through open market transactions. According to the bulk deal data available with NSE, the three promoters are Sanjay Agarwal...
JSW highest bidder for Binani Cement
Sajjan Jindal’s JSW Group has emerged as the highest bidder for Binani CementBSE 0.06 %, exceeding submissions from billionaire Rakesh Jhunjhunwala and UltraTechBSE -1.14 %, said three people familiar with the...
Shree Cement’s UAE acquisition: less than what meets the eye
The Shree Cement Ltd stock took a beating on Friday, correcting more than 3%. In the December quarter, the firm’s cement volumes grew moderately; realizations were weak and its power and fuel costs continued to surge...
Shree Cement to buy 93% stake in UAE-based Union Cement for $305 million
Shree Cement Ltd on Thursday said it had agreed to acquire a 92.83% stake in Union Cement Co. PSC, a United Arab Emirates-based firm, for an enterprise value of $305.24 million (Rs1,945 crore). Shree Cement has the...
Dalmia Bharat joins hands with Piramal Bain fund to bid for Binani
Dalmia Bharat Cement, India’s second-oldest manufacturer of the primary building material, has entered into an agreement with the Piramal Bain Resurgence Fund to bid for debt-laden Binani Cement LtdBSE 0.06 %, two...
Dalmia Bharat submits binding bid for Murli Industries, seeks 80% haircut
Puneet Dalmia-controlled Dalmia Bharat group has submitted a binding offer to acquire Nagpur-based Murli Industries Ltd, which is currently facing bankruptcy proceedings in the National Company Law Tribunal (NCLT), two...
Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels
The cash-rich Piramal Group is in the race to buy controlling stakes in Binani Cement and Electrosteel Steels after their lenders asked India’s top conglomerates to bid for distressed assets that have been referred to...
