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<ul><li>The acquisition will include a total cement capacity of 9.4 million tonnes (along with a clinker capacity of 6.7 million tonnes and thermal power plants of 280 MW).</li><li>These plants are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.</li><li>Jaiprakash Associates has been in the process of selling its cement assets in order to reduce its debt levels and repay lenders.</li></ul>Dalmia Bharat’s subsidiary Dalmia Cement on Monday said it plans to acquire the cement, clinker and power plants of Jaiprakash Associates for a total enterprise value of ₹5,666 crore, as it looks to expand its domestic presence. This deal is part of Jaiprakash Associates’ efforts to pay off its lenders by selling its assets. The acquisition will include a total cement capacity of 9.4 million tonnes (along with a clinker capacity of 6.7 million tonnes and thermal power plants of 280 MW). These plants are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh. With this, Dalmia Bharat will expand its footprint into the central region and will help it move closer to its goal of becoming a pan-India cement company with a capacity of 75 million tonnes by FY27 and 110‐130 million tonnes by FY31. Jaiprakash Associates has been in the process of selling its cement assets in order to reduce its debt levels and repay lenders. Between 2014 and 2017, the company sold cement capacity of 20 million tonnes per annum (MTPA) to UltraTech Cement. “Jaiprakash Associates ltd. (JAL), the flagship company has been taking steps to reduce its debt and repay to lenders and meet its commitments on pro active basis. In this regard, JAL had divested more than 20 MTPA cement capacity in favour of Ms. UltraTech Cement Limited during 2014 and 2017, while selling its controlling stake of more than 2 MTPA cement capacity to Dalmia Group in 2015,” said Jaiprakash Associates in a BSE Statement. According to several media reports, Adani Group and Aditya Birla Group both were in the fray to acquire the assets. “In order to repay the loans of lenders and concentrate in its other core areas of working, JAL has decided to divest from (the) cement business completely. With the sale of cement capacity of 9.4 MTPA in favour of Dalmia Cement (Bharat) ltd. (DCBL), we hope and pray having demonstrated its creditable working, JAL will further 'cement' its credentials of being a trustworthy organisation in (the) infrastructure segment of the country in times to come" said Jaiprakash Associates in a Statement. In May this year, the billionaire Gautam Adani paid as much as $10.5 billion to buy <a href="https://www.businessinsider.in/business/corporates/news/both-ambuja-cements-and-acc-are-bet-worth-investing-with-strong-parent-adani/articleshow/91690100.cms#:~:text=Both%20Ambuja%20Cements%20and%20ACC%20are%20bet%20worth%20investing%20with%20strong%20parent%20Adani,-Advertisement&amp;text=The%20cement%20industry%20saw%20the,%E2%80%94%20from%20Switzerland%2Dbased%20Holcim%20.">Ambuja Cements and ACC </a>from Switzerland-based Holcim. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/sula-vineyards-ipo-10-things-to-know-before-you-subscribe-to-it/slidelist/96163082.cms">Sula Vineyards IPO: 10 things to know before you subscribe to it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms">Best and worst performing IPOs of 2022</a>

Dalmia Bharat to acquire cement, power plants of Jaiprakash Associates for ₹5,666 crore enterprise value

<keyword id="183823" type="General" weightage="50" keywordseo="ambuja-cements-ltd" source="Orion">Ambuja Cements Ltd</keyword>, a part of Adani Cement on Thursday said it has been declared as the 'preferred bidder' for the <keyword id="16547676" type="General" weightage="100" keywordseo="uskalvagu" source="Orion">Uskalvagu</keyword> limestone block in <keyword id="6357961" type="General" weightage="80" keywordseo="odisha" source="Orion">Odisha</keyword>. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, <keyword id="105382" type="General" weightage="80" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword> said in regulatory filings. The <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword> firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectares with an estimated limestone resource of about 141 million tonnes. "The company shall get the statutory licences and permits related to mining operations to be declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation," it said. Preferred bidders are those who are selected by the vendor with the intention to sell the business or award a contract, subject to the completion of terms and conditions. Ambuja Cements with its subsidiary ACC Ltd has a capacity of 67.5 million tonnes with 14 integrated cement manufacturing plants and 16 cement grinding units across the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/loankuber-a-mortgage-platform-raises-2-million-led-by-inflection-point-ventures/articleshow/97972467.cms">Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a>

Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

The price of cement is hardening across the country and since August this year, the rates have gone up by ₹16/per bag, said <keyword id="152070" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services-Ltd" source="Orion">Emkay Global Financial Services Ltd</keyword>. According to a report by the company, in November the prices went up by about ₹6-7/bag. While the prices remained flat in Western and Central parts of the country, the rates hardened in Northern, Eastern and Southern regions, Emkay Global said. According to the report, the cement companies are attempting further price hikes of ₹10-15/bag across the country this month. "Absorption of the price hikes will get revealed over the next few days. With the financial-year change (from December to March) by ACC and Ambuja, volume push by these companies is likely to be limited in December. This is positive for the pricing trend in the near term," Emkay Global said. "We expect the industry's profitability to increase by move r than ₹200/ton QoQ (even higher for Eastern region players) in Q3FY23, with improving cement prices along with peakout of operating cost in Q2FY23," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/only-half-of-indian-listed-companies-set-net-carbon-emissions-commitments-wtw/articleshow/96032489.cms" style="">Only half of Indian listed companies set net carbon emissions commitments: WTW</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-beauty-brand-rene-cosmetics-raises-25-million-in-series-b-funding-led-by-evolvence-india-edelweiss-group/articleshow/96031563.cms" style="">Indian beauty brand RENÉE Cosmetics raises $25 million in Series B funding led by Evolvence India, Edelweiss Group</a>

Cement makers plan to hike price by ₹10-15 per bag

New Delhi, Feb 7 () Cement maker ACC Ltd on Friday reported a 62.68 per cent decline in consolidated net profit to Rs 273.28 crore for the quarter ending December 2019. The company had posted a net profit of Rs 732.35 crore in the October-December quarter a year ago, ACC said in a BSE filing.Its total income was up 4.89 per cent at Rs 4,117.85 crore during the quarter under review compared to Rs 3,925.61 crore in the corresponding quarter of the last fiscal, ACC said in a BSE filing. Total expenses of the company, which follows January-December as its fiscal year, were at Rs 3,709.42 crore as against Rs 3,585.32 crore of the corresponding quarter, up 3.46 per cent.The revenue from cement segment was Rs 3,704.94 crore and from ready mix concrete at Rs 388.89 crore during the quarter against Rs 3,582.18 crore and Rs 359.54 crore, respectively, in the year-ago period.Its sales volume for cement was up 3.88 per cent to 7.76 MT as against 7.47 MT of the corresponding quarter. Commenting on the results, ACC MD and CEO Neeraj Akhoury said: "We continue on our strong growth trajectory and have delivered a robust performance. Expansion in EBITDA has been supported by growth in premium products, higher value added service in our ready mix concrete business and efficiencies in manufacturing, supply chain and support functions."For the financial year 2019, ACC's net profit was down 9.40 per cent to Rs 1,377.54 crore as against Rs 1,520.62 crore.However, its total income was at Rs 15,975.98 crore, up 6.90 per cent as against Rs 14,944.28 crore in 2018.Our the outlook, he said: "The recently announced Rs 102 lakh crore on infrastructure projects under the national infrastructure pipeline is expected to drive the cement demand."Meanwhile, in a separate filing ACC said that its board in a meeting held on Friday has recommended payment of a dividend of Rs 14 per equity share of Rs 10 each (fully paid-up) for the financial year ended December 31, 2019.Shares of ACC Ltd on Friday settled at Rs 1,501.35 on BSE, up 0.79 per cent from the previous close. KRH MRMR

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Dalmia Bharat to acquire cement, power plants of Jaiprakash Associates for ₹5,666 crore enterprise value

Bhakti Makwana

Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

PTI

Cement makers plan to hike price by ₹10-15 per bag

IANS

ACC profit drops 62.7% to Rs 273.28 cr in Oct-Dec

PTI

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