Dalmia Cement Bharat Ltd signs Framework Agreement with Jaiprakash Associates Limited

Dalmia Cement (Bharat) Limited (DCBL), wholly owned subsidiary of Dalmia Bharat Limited has today entered into a binding Framework Agreement for the acquisition of Clinker, Cement and Power Plants from Jaiprakash Associates Limited and its associate having total cement capacity of 9.4 MnT (along with Clinker capacity of 6.7MnT and Thermal Power plants of 280MW) at an Enterprise Value of Rs 5,666 Cr. These assets are situated in the states of Madhya Pradesh, Uttar Pradesh & 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 MnT by FY27 and 110-130 MnT by FY31.

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

Shares of Dalmia Bharat Limited was last trading in BSE at Rs. 1853.15 as compared to the previous close of Rs. 1848.45. The total number of shares traded during the day was 3731 in over 461 trades.

The stock hit an intraday high of Rs. 1868.40 and intraday low of 1838.85. The net turnover during the day was Rs. 6911328.00.

Source : Equity Bulls

Keywords

DalmiaBharat INE00R701025 DalmiaCementBharat Acquisition JaiprakashAssociates