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After several failed attempts by Jaypee to sell its cement business in the last two years, the lenders prevailed upon the company to sell a lion's share of its portfolio in one shot. The company had already divested assets worth Rs 5,000 crore in three states – Gujarat, Jharkhand and Haryana – but its debt burden left it with few choices.
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According to UltraTech's intimation to the bourses, Jaypee's cement plants being acquired by UltraTech have a combined turnover of Rs4,541 crore.
To cut its debt further Jaypee Group is planning to sell its two cement units in Himachal Pradesh and it has already initiated dialogue in this regard. Jaiprakash is the third-largest cement player in the country with a 27.8 million tonne per annum capacity. The company's Himachal units include a 2 million tonne cement plant […]
According to the deal, Dalmia Bharat Ltd will purchase 9.4 million tonnes of cement capacity along with a thermal plant from Jaypee Group flagship firm JAL and its associate company across several ...
Aditya Birla Group firm UltraTech today announced the acquisition of debt-ridden JP Group's cement plants for nearly Rs 17,000 crore (about $2.5 billion), making it the biggest deal in the sector.
The board of Jaiprakash Associates Limited (JAL) on Thursday approved a definitive agreement with UltraTech Cement (UTCL) for sale of part of its cement business comprising assets with an ...
New Delhi: Jaiprakash Associates Ltd and its group firms on Monday announced the sale of remaining cement assets to Dalmia Bharat Ltd at an enterprise value of Rs 5,666 crore and exit from the sector as part of its strategy to reduce debt. According to the deal, Dalmia Bharat Ltd will purchase 9.4 million tonnes of cement capacity along with a thermal plant from …
Giving update on other proposed transactions, the company said it plans to sell entire 74% stake in Bhilai Jaypee Cement Ltd to Orient Cement Ltd at a total enterprise value of Rs1,450 crore ...
In one of the biggest transactions in the cement industry, the debt-laden Jaypee group signed a binding agreement on Sunday to sell its cement business, with a capacity of 18.4 million tonnes per annum (mtpa), to …
Jaypee Power Ventures had on last week informed that it will hold a board meeting on Monday to consider a proposal to divest its Nigrie cement grinding plant in …
However, the size of the deal announced last month has been reduced from Rs 16,500 crore as Jaiprakash Associates Ltd (JAL) decided not to sell its cement plant in Karnataka with a capacity of 1.2 ...
Recently, Aditya Birla Group firm UltraTech Cement had announced it will acquire Gujarat Cement unit of Jaypee Cement Corp for Rs 3,750 crore. The court has also issued notices to the state government. The PIL charged that Jaypee Cement has encroached on the 'gaucher' (grazing) land, water bodies and lakes and public roads around the plant.
The decisions by the two Jaypee group firms to sell their cement business come against the backdrop of a recent plea by the SBI to initiate insolvency proceedings against the flagship firm JAL. "With a view to give thrust to the ongoing efforts of the company to reduce its debt, the board of directors in their meeting decided to divest the ...
The Jaypee Group is also planning to sell its 1,000MW Karcham Wangtoo and 300MW Baspa II power plants in Himachal Pradesh. The plants are owned by JAL's subsidiary Jaiprakash Power Venture, which ...
MUMBAI: Aditya Birla flagship UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement are among prospects approached to take over the Jaypee Group's cement business. Plans for an outright sale of the residual 20 million tonne portfolio for an estimated Rs 19,000 crore enterprise valuation are again gathering momentum as the …
Dalmia Bharat had in 2022 announced signing a definitive agreement with Jaiprakash Associates to acquire the latter's cement plants in Uttar Pradesh, Madhya Pradesh and Chattisgarh at a cost of ...
India: UltraTech Cement has received the approval of the Bombay and Ahmedabad High Courts to acquire Jaypee Cement's plant in Gujarat. UltraTech has already received the approval of the Securities and Exchange Board of India (SEBI), shareholders and creditors to buy the 4.8Mt/yr cement plant with a 57.5MW coal-fired thermal power plant, limestone reserves for over 90 …
2022 deal. Dalmia Bharat had signed a deal in 2022 with Jaypee to acquire the latter's cement and power assets for an enterprise value of Rs 5,666 crore.
Its cement division currently operates modern, computerised process control cement plants with an aggregate capacity of 14.70 MTPA. The company is in the midst of capacity expansion of its cement business and is slated to be a 23 MTPA cement producer by the year 2010 and 30 MTPA by 2011, with captive thermal power plant totalling 342 MW.
Dalmia, which has 14 cement plants in 10 Indian states with a total capacity of 37 million tonnes, eventually wants capacity to be increased to 110-130 million tonnes by fiscal 2031.
JSW Cement had been eager to acquire Jaypee's cement assets. The Gaurs, who have been in touch with the Jindals of JSW to sell their power plants, had this month re-engaged with them for the cement business as well. Sajjan Jindal's move to buy out Jaypee's entire 33 MTPA cement portfolio last year failed due to differences over valuation.
Bela Cement Ltd incorporated to establish 3rd Cement Plant at Bela. 2. Hotel Jaypee Residency Manor set up. 1996. 1. Commissioning of the 3rd cement plant 1.7 MTPA Jaypee Bela Plant in District Rewa, MP. 1999. 1. Hotel Jaypee Palace, Agra set up. 2000. 1. Jaypee Greens Ltd – 458 acre golf centric real estate company comes into being
Cement tested at temp.27± 2°C *N.C.(Normal Concrete) *P.C.(Prestressed Concrete) Jaypee Cement (OPC-53 Grade) OPC-53 Grade has been the mainstay for fast paced construction of high strength, heavy load bearing Structures viz., Bridges, prestressed elements, penstocks, precast elements etc. requiring very high strength to negotiate the heavy static & dynamic loads.
India's largest cement-maker Ultratech Cements Ltd (UT) had to close a Rs 5,325-crore deal to buy two cement plants (5 MTPA) of Jaiprakash Associates Ltd (JP) in Madhya Pradesh as the Bombay High Court cited the arrangement Giving rejected the plan. ... If Jaypee manages to sell the assets fully and use the proceeds for repayment as per the ...
Dalmia Bharat's acquisition of Jaiprakash Associates' cement assets for ₹5,666 crore is facing a legal hurdle due to a shareholder dispute at one of the joint-venture plants involved in the deal. The National Company Law Tribunal (NCLT) has ordered a freeze on Jaypee's shareholding in Jaypee Bhilai Cement, a joint venture between Jaiprakash …
In a filing to the BSE, JAL said: "Board today approved the definitive agreement with Ultratech Cement Ltd (UTCL) for sale of part of its cement business comprising identified operating cement plants with an aggregate capacity of 17.2 MTPA spread over the states of UP, MP, HP, Uttarakhand and Andhra Pradesh, besides a grinding unit of 4 MTPA ...
Jaiprakash Associates has been selling its cement plants to reduce debt, with a significant portion of its cement business previously acquired by UltraTech in 2016 for over Rs 16,000 crore, adding 22.4 mtpa capacity to UltraTech's portfolio. The remaining units retained by the debt-ridden group are now being eyed by the Adani Group.
