Dalmia Cement to acquire cement, power plants of Jaiprakash Associates

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IANS | 12 Dec, 2022
Dalmia Cement (Bharat) Ltd (DCBL), a wholly-owned subsidiary of Dalmia Bharat Ltd will acquire the clinker, cement, and power plants from Jaiprakash Associates Ltd and its subsidiary/associate at an enterprise valuation of Rs 5,666 crore.

In a regulatory filing on Monday, Dalmia Bharat said the total cement capacity to be acquired will be 9.4 million ton (along with clinker capacity of 6.7 million ton and thermal power plants of 280MW).

These assets are situated in the states of Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.

The acquisition will enable Dalmia to expand its footprint into the central region and will represent a significant step towards realization of its vision to emerge as a pan- India cement company with a capacity of 75 million ton by FY27 and 110-130 million ton by FY31, Dalmia Cement (Bharat) said.

The transaction is subject to due-diligence, requisite approvals from lenders/JV partner of Jaiprakash Associates and regulatory authorities.