Dalmia Group to turn around debt-ridden J.P.Associates, deal worth ₹5,666 crore

Dalmia Bharat Cement Latest News : The cement business of Jaypee Group, which has been in debt for a long time, has now found a new buyer. Dalmia Bharat Ltd. on Monday announced the acquisition of the cement business of Jayprakash Associates Ltd., the flagship company of Jaypee Group, and its subsidiaries. This acquisition has been completed for Rs 5,666 crore. It is known that Jai Prakash Associates and Jaiprakash Power Ventures had announced the sale of some non-core businesses along with the cement business in the month of October for debt reduction. After this Dalmia Bharat has bought it.

Bought cement-power business

Dalmia Bharat informed the stock market today that its wholly owned subsidiary Dalmia Cement Bharat Ltd. (DCBL) Jaiprakash Associates Ltd. And has entered into a firm agreement with its affiliated companies for the acquisition of clinker, cement and power plants. The deal includes a cement unit of 9.4 million tonnes per annum capacity, 6.7 million tonnes of clinker capacity and a thermal power plant of 280 MW capacity. The deal has been done at an enterprise value of Rs 5,666 crore.

Know what Dalmia Bharat said

According to media reports, Dalmia Bharat says that these properties are located in the states of Madhya Pradesh, Uttar Pradesh and Chhattisgarh. This acquisition will help Dalmia to increase its presence in the central region of the country. It is known that this company is working towards fulfilling the target of becoming a cement company with a capacity of 75 million tonnes by the financial year 2026-27 and 11 to 13 million tonnes by 2030-31.

so much capacity

On the other hand, Jai Prakash Associates says that a meeting of the Board of Directors has been called on Monday. The meeting was called to apprise the Board of Directors of the recommendations of the Audit Committee and to apprise them of the progress in the matter relating to disinvestment. The total capacity of Jaiprakash Associates is currently around 6 million tonnes per annum while that of Jaiprakash Power Ventures is 4 million tonnes per annum.

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