Dalmia Cement Bharat inks framework agreement with Jaiprakash Associates

14 Dec 2022 , 09:18 AM

Dalmia Cement (Bharat) Limited (DCBL), wholly owned subsidiary of Dalmia Bharat Limited has entered into a binding Framework Agreement for the acquisition of Clinker, Cement and Power Plants from Jaiprakash Associates Limited.

As per the filing, the company 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 Rs5,666 crore.

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 company said.

At around 9:19 AM, Dalmia Bharat was trading at Rs1867.75 per share higher by 0.67% on the BSE.

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