The National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation with Ambuja Cements, which will help to consolidate Adani Group’s cement business under one unit and bring synergistic benefits...
Nuvoco Vistas completes Rs 1800 cr Vadraj cement acquistion
Nirma Group’s Nuvoco Vistas Corp has made the Rs 1800 crore payment to lenders led by Punjab National Bank (PNB) and Union Bank of India completing its acquisition of the debt-ridden Vadraj Cement. The money was...
India Cements to sell its subsidiary Industrial Chemicals
India Cements Ltd (ICL), owned by the Aditya Birla group, on Saturday said it will sell its subsidiary Industrial Chemicals and Monomers to Mirai Sensing. The board of the company has approved the sale with a...
Nuvoco Vistas completes Rs 1800 cr Vadraj cement acquistion
Nirma Group’s Nuvoco Vistas Corp has made the Rs 1800 crore payment to lenders led by Punjab National Bank (PNB) and Union Bank of India completing its acquisition of the debt-ridden Vadraj Cement. The money was...
JK Cement Acquires 60 Per Cent Stake in Saifco Cements for Rs 1.5 Bn
JK Cement , JK Cement Saifco Acquisition: JK Cement has completed the acquisition of a majority 60 per cent stake in Jammu & Kashmir-based Saifco Cements for Rs 150 crore. Following this, Saifco Cements has become a...
NCLAT upholds insolvency proceedings against Jaypee Cement Corporation
In a decisive move earlier this week, the National Company Law Appellate Tribunal (NCLAT) upheld the initiation of insolvency proceedings against Jaypee Cement Corporation Ltd (JCCL), rejecting an appeal filed by Alok...
JK Cement acquires 60% stake in J&K-based Saifco Cements for Rs 150 cr
JK Cement has completed the acquisition of a majority 60 per cent stake in Jammu & Kashmir-based Saifco Cements for Rs 150 crore, formalising a joint venture with the company. This makes the JK Organisation group...
Ambuja Cements completes acquisition of promoters’ 37.8% stake in Orient Cement
Adani Group-owned Ambuja Cements has completed the acquisition of 37.8 per cent promoters’ stake of CK Birla group firm Orient Cement Ltd (OCL) and has become a promoter. With this, the total shareholding of...
UltraTech to acquire 26% stake in renewable energy co AMPIN C&I Power Eight for Rs 25.5 crore
UltraTech Cement on Wednesday announced its decision to acquire 26 per cent stake in renewable energy company, AMPIN C&I Power Eight, for Rs 25.5 crore. “The company has entered into Energy Supply Agreement...
Nuvoco Vistas gets NCLT nod to acquire Vadraj Cement
The Mumbai bench of the National Company Law Tribunal has approved Vadraj Cement’s acquisition by Nirma group-owned listed cement maker Nuvoco Vistas Corp Ltd. Gujarat-based Vadraj Cement, formerly owned by ABG...
UltraTech to acquire wall putty maker Wonder WallCare
UltraTech Cement will acquire Wonder WallCare, a manufacturer of wall putty, for an enterprise value not exceeding Rs 235 crore as part of its aggressive expansion strategy. This acquisition will enhance the portfolio...
Ambuja Cements gets Delhi HC notice on stamp duty row in Holcim merger
The Delhi high court has issued a notice to Adani Group’s Ambuja Cements on a plea by the Delhi stamp duty department, which seeks to recover ₹218.87 crore in stamp duty and ₹69 crore in penalties for its merger with...
