JSW Cement, a JSW group company is eyeing at a valuation of around Rs 30,0000 crore when it hits the IPO street with 10 per cent dilution. “We are looking at raising Rs 2,500-Rs 3,000 crore from diluting 10 per...
UltraTech completes acquisition of Jaiprakash group cement business
UltraTech Cement has completed the Rs 16,189 crore acquisition of Jaiprakash Associates’ six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes. The scheme implementation...
Minority shareholders challenge India Cements merger plan at NCLAT
Minority shareholders of Trinetra Cements, a subsidiary of Chennai-based Cements major India Cements, have moved the National Company Law Appellate Tribunal(NCLAT), challenging the plan to merge the two companies. Delhi...
Orient Cement to acquire 2 units from Jaypee for Rs 1,946 cr
CK Birla Group firm Orient Cement Ltd today said it would acquire two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms for a total consideration of Rs 1,946 crore. Orient Cement...
Jaypee, UltraTech Cement looking to seal Rs16,189 crore deal by July
The Aditya Birla group’s Ultratech Cement Ltd’s Rs16,189 crore acquisition of the cement business of Jaiprakash Associates Ltd is expected to be completed soon, a top group executive said in an interview. “The...
LafargeHolcim lays ground for merger of ACC and Ambuja, gets closer to rival UltraTech
Cement giant LafargeHolcim has initiated a process that could lead to the union of its Indian operations ACCBSE 0.06 % and Ambuja Cement, following months of speculation that this could be happening. ACC is evaluating a...
Labour union alleges big scam in L&T cement sale to Grasim in 2005
A labour union on Thursday alleged many irregularities in the 2004-05 sale of Larsen & Toubro’s cement business to Grasim and accused outgoing chairman AM Naik of cornering Rs 600 crore from the transaction...
Government plans to sell non-operational units of Cement Corporation of India
The government today said it is planning to sell off non-operational units of Cement Corporation of India (CCI) as part of strategic sale of loss-making companies. “As far as CCI is concerned, non-operating units...
Ambuja Cement gains nearly 6% on reports of merger with ACC
Ambuja Cements gained as much as 5.8% to Rs 242.65 during intra-day on reports of LafargeHolcim mulling merger of ACC and Ambuja Cements. ACC also rose over 5% to Rs 1,500 on the reports despite its consolidated net...
Cement deals dominate top five M&A deals in 2016
Fuelled by a consolidation wave and rising confidence in the country’s economic growth prospects, merger, and acquisition (M&A) activity increased to $69.75 billion across 1,195 announced transactions in 2016...
Dalmia Bharat Group to invest Rs 2,000 crore on Odisha plant
Dalmia Bharat Group has announced an investment of Rs 2,000 crore to expand the capacity of its cement plant in Odisha. Group company Dalmia Cement Bharat Ltd has 74.6 stakes in OCL India, a leading cement maker with...
India Cements plans to invest around Rs 400 cr
India Cements Ltd (ICL) is planning to invest around Rs 400 crore as capex till next fiscal. N Srinivasan, vice chairman and managing director, India Cements, said that the company has envisaged a capexof Rs 200 crore...
