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New Delhi, <keyword id="2735606" type="General" weightage="50" keywordseo="vedanta-ltd" source="Orion">Vedanta Ltd</keyword> on Monday announced appointment of <keyword id="4266542" type="General" weightage="80" keywordseo="sonal-shrivastava" source="Orion">Sonal Shrivastava</keyword> as its Chief Financial Officer (CFO) effective June 1, 2023. A bachelor's in chemical engineering from BIT, Sindri and an MBA from the <keyword id="3761718" type="General" weightage="50" keywordseo="jamnalal-bajaj-institute-of-management-studies" source="Orion">Jamnalal Bajaj Institute of Management Studies</keyword>, she comes with over 26 years of financial leadership experience across sectors, the mining major said in a statement. Shrivastava joins <keyword id="28423" type="General" weightage="20" keywordseo="vedanta" source="Orion">Vedanta</keyword> from <keyword id="307790" type="General" weightage="50" keywordseo="holcim-group" source="Orion">Holcim Group</keyword> where she worked as the CFO for Asia Pacific, Middle East &amp; Africa operations, it said. Vedanta Chairman <keyword id="6354819" type="General" weightage="50" keywordseo="anil-agarwal" source="Orion">Anil Agarwal</keyword> said, "Her global experience and successful track record of delivering robust financial outcomes across sectors makes her a valuable addition. We are confident that she will play a vital role in the company's future years." At Vedanta, she will spearhead the group's financial strategy and be responsible for accounting, tax, treasury, investor relations, financial planning and analytics, while driving digitalization and profitability. Shrivastava will work with all internal and external stakeholders to develop and deliver business goals. On her appointment, Shrivastava said, "I look forward to contributing to the company's success by leveraging strategic &amp; financial initiatives and working collaboratively to develop and implement strategies that accelerate performance and enhance value for all stakeholders."

Vedanta appoints Sonal Shrivastava as CFO

<ul><li>As much as ₹5,000 crore was infused by the promoter into the company in October 2022.</li><li>In total, promoters infused ₹11,661 crore in <keyword id="20674395" type="General" weightage="20" keywordseo="ambuja" source="keywords">Ambuja</keyword> post acquisition, giving it capital flexibility for growth. </li></ul>New Delhi, The Adani family, the promoter of <keyword id="20057393" type="General" weightage="20" keywordseo="ambuja-cements" source="keywords">Ambuja Cements</keyword>, on Thursday announced an infusion of Rs 6,661 crore, increasing its stake by 3.6 pc to attain 66.7 per cent holding in the country's second largest cement company. The fund's infusion will be instrumental for the cement business of the <keyword id="19955648" type="General" weightage="20" keywordseo="adani-group" source="keywords">Adani Group</keyword>, which has plans to enhance its capacity to 140 million tonnes per annum by 2028, said a statement from billionaire Gautam Adani-owned Ambuja Cements. This investment follows an infusion of Rs 5,000 crore by the promoter into the company for exercising the warrants issuance approved by the board in October 2022. "With this, Adani family have increased their stake in the company by 3.6 per cent to attain 66.7 per cent holding," said Ambuja Cements which also owns controlling stake in another cement firm ACC Ltd. With this, promoters have infused Rs 11,661 crore in Ambuja post acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives, the statement said. "The additional investment will fortify the company's financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalize on emerging opportunities in the market," it said. This investment shall also be instrumental in fuelling various strategic initiatives including undertaking debottlenecking capex to enhance operational capabilities to ensure scalability as well as bringing efficiencies across resources, supply chain. "This shall also drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector," it said. Ambuja Cements CEO <keyword id="20332987" type="General" weightage="20" keywordseo="ajay-kapur" source="keywords">Ajay Kapur</keyword> said this infusion of funds provides "flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength". "It is not only the testament to steadfast belief in our vision and business model but also reinforces our commitment to delivering long-term sustainable value creation to our stakeholders and this shall propel us towards setting new benchmarks accelerating our growth and continue to deliver on operational excellence, business synergies and cost leadership," he said. Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cements annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently acquired <keyword id="21112274" type="General" weightage="20" keywordseo="sanghi-industries-ltd-" source="keywords">Sanghi Industries Ltd.</keyword> In September 2022, Adani group has acquired controlling stakes of <keyword id="20405096" type="General" weightage="20" keywordseo="ambuja-cement" source="keywords">Ambuja Cement</keyword> from Swiss firm Holcim for cash proceeds of USD 6.4 billion (about Rs 51,000 crore). Later it had also launched a Rs 31,000 crore open offer for the acquisition of 26 per cent additional stakes from public shareholders.

Adani family infuses ₹6,661 crore in Ambuja Cements, increases stake to 66.7%

<ul><li>The cement industry saw the largest deal get sealed this week which is to change the fortunes of the sector for good.</li><li>The billionaire <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> paid as much as $10.5 billion to buy Ambuja Cements and ACC — from Switzerland-based <keyword id="75756" type="General" weightage="20" keywordseo="holcim" source="Orion">Holcim</keyword>.</li><li>Analysts see robust long-term outlook for these companies along with hopes of higher-than-industry volume growth as Gautam Adani backs the firms.</li></ul>Whether or not to invest in shares of ACC and Ambuja Cements after Adani acquired them has become the talk of the town. A few days back, the billionaire Gautam Adani paid as much as $10.5 billion to buy Ambuja Cements and ACC — from Switzerland-based Holcim. While as much as the cement companies <a href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">will benefit other infrastructure companies at Adani </a>with raw material, Ambuja Cements and ACC will become a dominant player in the industry. With the acquisition, <keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> emerges as the second largest cement producer in the country with the highest capacity of 70 million tonnes annually. Now, the acquisition has led to mandatory open offers in both the companies, wherein the acquirer Adani will buy shares from the market at a fixed price. Adani has proposed to buy 48.96 million equity shares at ₹2,300 per share of ACC. Similarly, it will buy 516 million shares of Ambuja Cements at ₹385 per share. Shares of both the companies will be bought at premium to the current market price, which excites investors to buy stocks of the particular firm. Ambuja Cements and ACC to scale up capacity and volume growth post change of promoter While analysts believe stocks of both companies are bound to perform well with strong parentage, there are possibilities of various scenarios to take place that could impact the share price movement. These are some of the possibilities charted out by Nirmal Bang Institutional Equities. Case 1: Adani group could delist the shares of both companies post acquisition If the Adani group plans to delist the shares completely, then the premium paid for the open offer will be relatively higher. Case 2: Adani group keeps the shares listed post acquisition The Adani group is already paying a premium for the acquisition of ACC and Ambuja assets from the Holcim group. If they plan to keep both entities listed, then offering a higher premium for the open offer is not in the interest of the group. Case 3: ACC and Ambuja Cements to be merged and the combined entity continues to trade on the exchanges The Adani group can merge the two entities after the acquisition and then do equity dilution to take its overall stake below 75% to comply with listing norms. This is an ideal scenario for minority shareholders of both ACC and Ambuja, as the merged entity is likely to trade at a premium valuation and its overall growth profile is expected to be better Analysts suggest investors to pick stocks at dips and stay invested for a long term “We do believe that the long-term outlook for these companies is positive given the possibility of higher-than-industry volume growth, further improvement in efficiency and a possible merger at a later stage, thereby streamlining the company’s corporate structure,” said a report by Nirmal Bang. “Both of them are cement companies and can be scaled up after acquisition by Adani group but if we go by metrics ACC looks better,” said Manoj Dalmia, founder and director at Proficient equities. Dalmia believes ACC is better because earnings per share for ACC is higher at ₹99 and Ambuja has about ₹14. Meanwhile, Ravi Singh, vice president and head of research at Share India feels Ambuja Cements has better metrics than ACC “ACC and Ambuja both companies will be benefitted from this acquisition. However, Ambuja looks more robust on valuations terms, with bigger network coverage, higher profit margins, impressive cement capacity and better P/E growth as compared to ACC. On the Technical setup, ACC looks more aggressive and is in an accumulation zone which may push the stock upwards strongly. As both the companies look attractive for long term investments, we advise investors to invest in 60:40 ratio in Ambuja and ACC, to capture the opportunity. The long term target for Ambuja and ACC stands out at ₹420 and ₹2,450 respectively,” said Singh. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/emudhra-ipo-checkout-financial-performance-business-outlook-analysts-view-in-10-points/slidelist/91681778.cms">eMudhra IPO: Checkout financial performance, business outlook, analysts view in 10 points</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/the-worst-for-indian-startups-is-yet-to-come-be-prepared-for-layoffs-unicorn-slowdown-and-startup-shutdowns-in-2022/articleshow/91681195.cms">The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022</a>

Both Ambuja Cements and ACC are bet worth investing with strong parent Adani

<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

<ul><li><keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> outbid <keyword id="144036" type="General" weightage="20" keywordseo="jsw-group" source="Orion">JSW Group</keyword> and Ultratech Cements to buy India’s two largest cement companies and make a grand entry into the cement industry.</li><li>Billionaire <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> acquired Ambuja Cements and its subsidiary ACC from Switzerland based Holcim for $10.5 billion.</li><li>Further, Adani Group companies will benefit from backward integration as cement is a key ingredient in all infrastructure businesses.</li></ul>The Adani Group has many business interests but most of all they’re builders - with presence in sectors like real estate, infrastructure be it airports, ports, power plants, logistics and more. A good way to cement their presence in all these sectors is to be in the business of cement manufacturing. Putting <a href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms">all rumors </a>to rest, the group released a statement that it acquired two of India’s most valuable cement companies — Ambuja Cements and ACC — outbidding yet another infrastructure major JSW Group and India’s largest cement manufacturer, Ultratech Cement. The billionaire Gautam Adani paid as much as $10.5 billion to buy the companies from Switzerland-based Holcim. Holcim owned 63.11% stake in Ambuja and 4.48% direct stake in ACC. Ambuja Cements owns 50.05% in ACC. Infra major Adani will be its biggest customer of its cement business For the oil-to-coal-to-power conglomerate, acquiring cement business accounts to backward integration which will aid growth in its infrastructure businesses. “On the demand side, we continue to execute on a massive number of construction activities that span every one of our infrastructure businesses. I therefore expect us to be one of the largest customers of our own cement business,” said Gautam Adani, chairperson of Adani group in an interview to <a href="https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/cement-is-not-a-material-you-import-you-have-to-be-naturally-atmanirbhar-gautam-adani/articleshow/91584382.cms?from=mdr">The Economic Times</a>. Adani expects to utilize the cement business to fulfill some of its goals aligned with the government’s plans. “The creation of 100 smart cities, 200 new airports, Housing-for-All as part of the Pradhan Mantri Awas Yojana, large-scale concrete highways and the ministry mandate that stipulates minimum of 25% of concrete volume to be used in national highways, expressways and other centrally sponsored road projects, the rise of dedicated freight corridors - the list of possibilities that will drive cement consumption is endless,” Adani told ET. Further, Adani wishes to aggressively expand and double the existing 70 million tonnes per year capacity within the next five years. Adani becomes the second largest player in the Indian cement industry With the acquisition, Adani Group emerges as the second largest cement producer in the country. Analysts believe the buyout can change the fortunes of Adani and also that of the entire industry. “Adani Group, all of sudden, emerges as the second largest cement producer of the country with its master stroke of buying-out ACEM and ACC from Holcim. However, to us, this master stroke is not just about the buyout, but Adani, in our view, now has the potential to turn around the fortune for the whole industry and not just theirs,” said analysts at Phillip Capital. After Ultratech Cements, Adani Group (via Ambuja and ACC) has the highest capacity of 70 million tonnes annually. In terms of market capitalisation, Ambuja Cements and ACC are the fourth and fifth largest cement manufacturers in India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top five cement companies in stock market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual capacity </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.75 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">119.95 million tonnes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,352 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43.4 million tonnes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ambuja Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹74,163crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.45 million tonnes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ACC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41,924 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.45 million tonnes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Bharat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹26,502 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.9 million tonnes </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE as at 11:20 p.m. May 16 What’s in for investors from the acquisition? The acquisition has led to mandatory open offers in both the companies, wherein the acquirer Adani will buy shares from the market at a fixed price. Adani has proposed to buy 48.96 million equity shares at ₹2,300 per share of ACC. Similarly, it will buy 516 million shares of Ambuja Cements at ₹385 per share. The shares will be bought at a 7-9% premium from Friday’s closing price. As a result, shares of Ambuja Cements surged 5% and those of ACC spiked nearly 8% on May 16. After the deal, analysts at Phillip Capital have recommended a “buy” rating for the stocks with a target price of ₹2,850 for ACC and ₹440 for Ambuja Cements. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/what-happens-to-the-human-body-when-the-temperature-reaches-50-degree-celsius/articleshow/91589906.cms">What happens to the human body when the temperature reaches 50 degree celsius?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/social-media-platforms-deny-but-content-creators-and-tracking-websites-confirm-that-shadowbanning-or-silent-censorship-is-real/articleshow/91589975.cms">Social media platforms deny but content creators and tracking websites confirm that shadowbanning or silent censorship is real</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-is-reportedly-working-on-a-platform-for-third-party-sellers-starts-adding-sellers-to-jiomart/articleshow/91590604.cms">Reliance is reportedly working on a platform for third-party sellers, starts adding sellers to JioMart</a>

Adani Group cement buyout is actually a bet on its infrastructure business

<keyword id="46431" type="General" weightage="50" keywordseo="india-inc" source="Orion">India Inc</keyword> signed 1,149 deals valued at $104.3 billion in the first half of this year, amid global uncertainties, and the country saw $6 billion from 17 IPOs -- the highest values raised in the first six months, a report showed on Thursday. The figures represent a significant 34 per cent increase in the overall deal volumes, while deal values more than doubled (with a 143 per cent increase) from the same period last year, according to the <keyword id="10410446" type="General" weightage="80" keywordseo="grant-thornton-bharat" source="Orion">Grant Thornton Bharat</keyword> Dealtracker report. Driven by <keyword id="6357149" type="General" weightage="50" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> and <keyword id="83209" type="General" weightage="50" keywordseo="hdfc-ltd" source="Orion">HDFC Ltd</keyword>'s $40 billion merger, LTI and <keyword id="6357902" type="General" weightage="80" keywordseo="mindtree" source="Orion">Mindtree</keyword> merger ($17.7 billion) and Adani Group-Holcim Ltd's $10.5 billion deal, M&amp;A deal values recorded an over two times increase over H1 2021. These three deals alone accounted for 86 per cent of the total M&amp;A deal values in H1 2022. "Amid macro-economic stress, the overall deal sentiment for 2022 is expected to continue given the support from the government on infrastructure spending, supply-side response and key fiscal measures," said <keyword id="12539905" type="General" weightage="80" keywordseo="shanthi-vijetha" source="Orion">Shanthi Vijetha</keyword>, <keyword id="6399933" type="General" weightage="80" keywordseo="partner" source="Orion">Partner</keyword>, Growth, Grant Thornton Bharat. "However, corporates and more importantly PE/VCs may employ a cautiously optimistic approach as the impact of the global economic slowdown on the Indian economy becomes evident," Vijetha added. While private equity deal activity continued to dominate total deal volumes with 3/4th share, deal values were driven by mergers and acquisitions with 76 per cent of the total deal values in H1 2022. Startup, e-commerce and IT sectors led deal activity in H1 2022, driving 76 per cent of all deals followed by retail, education and pharma sectors. The M&amp;A space witnessed a significant increase in the first half, witnessing 284 deals while representing a 27 per cent growth over H1 2021. The banking and financial sector had the highest contribution of 53 per cent in terms of overall deal value in H1 2022, followed by IT and manufacturing sectors. The private equity and venture capital investments saw record volumes and values in the first six-month period with 865 deals at $25.1 billion. However, there was a 12 per cent and 15 per cent decrease in investment volumes and values over H2 2021 (the preceding six months), the report noted. "The drop in the deal values is due to a fall in big-ticket investments coupled with prevailing factors including geopolitical tensions, stock market volatility, concerns about the rise in commodity prices and the impact of inflation," the report noted. Nevertheless, large funds like <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Westbridge, Baring PE, TPG, Brookfield, Blackstone and Warburg Pincus, among others, continued to keep pace with their activity. The start-up space attracted the most investment at $5.1 billion across 550 deals, recording a growth of 69 per cent in deal values. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-vs-west-indies-heres-the-entire-schedule-for-the-upcoming-odi-t20i-series/slidelist/93024475.cms">India vs West Indies: Here’s the entire schedule</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/strong-corporate-earnings-drive-markets-higher/articleshow/93028512.cms">Strong corporate earnings drive markets higher</a>

India sealed M&A deals worth $104.3 bn this year, raised $6 bn from IPOs

Tyre major MRF Ltd closed FY22 with a lower net profit on a higher revenue as compared to FY21. The company's board recommended a final dividend of Rs 144 per share of Rs 10 each. The total dividend for FY22 was Rs 150 after taking into account two interim dividends of Rs 3 each. For the period under review, MRF had posted a total income of Rs 19,304.43 crore up from Rs 16,128.58 crore. The company had posted a net profit of Rs 647.34 crore last fiscal, down from Rs 1,249.06 crore logged in FY21. During the year under review, MRF's exports stood at Rs 1,779 crore, up from Rs.1,333 crore logged during FY21. According to MRF, it was not able to fully recover the increase in raw material cost. Market conditions, after the pandemic, are also not favourable to absorb such frequent price increases. The company will do its best to recover the cost increases in the coming months. The operations were also adversely impacted by the uncertainties posed by the Covid-19 pandemic in the early part of the year, issues connected with availability of raw materials and also challenges posed by the Ukrainian war, MRF said. The company's share with a face value of Rs 10 is one of the highest priced scrips on the bourses. On Tuesday, the scrip opened at Rs 68,560 and touched a high of Rs 70,895.95. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms">Here's why Adani and JSW Group are racing to acquire Ambuja Cements and ACC from Holcim</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/indian-company-coindcx-is-doubling-down-on-its-efforts-in-crypto-with-a-new-investment-venture/articleshow/91464620.cms">At a time when crypto companies and talent are relocating to Dubai, this Indian company is doubling down on its efforts with a new investment venture</a>

MRF's profit in FY22 fell by almost 50% to ₹647 crore

<a href="http://www.businessinsider.in/searchresult.cms?query=Birla+Corporation+">Birla Corporation</a> announced on Monday that it would acquire two cement units of <a href="http://www.businessinsider.in/searchresult.cms?query=Lafarge+">Lafarge</a> India in <keyword id="6360371" type="COMPANY" weightage="80" keywordseo="Jharkhand">Jharkhand</keyword> and Chattisgargh. These units would be sold through a slump sale for an enterprise value of Rs 5,000 crore. 
 The French company has decided to sell its units to conclude its mega global merger with <keyword id="1763424" type="COMPANY" weightage="60" keywordseo="Holcim-Ltd">Holcim Ltd</keyword>, reported the Economic times. 
 
The transaction would be funded through existing cash reserves and incremental debt, and is subject to approval of <a href="http://www.businessinsider.in/searchresult.cms?query=Competition+Commission+of+India">Competition Commission of India</a>. 
 <keyword id="62363" type="COMPANY" weightage="80" keywordseo="Birla-Corp">Birla Corp</keyword> will acquire an integrated cement unit at Sonadih, a cement grinding unit at Jojobera, along with Concreto and PSC brands. The plants have a total cement capacity of 5.15 million tonnes per annum (mtpa). 
 
"The acquisition business has a demonstrated track record of operational and commercial excellence with profitability amongst the highest in the industry aided by raw material linkages, strong distribution networks and excellent brand loyalty in the attractive Eastern India <a href="http://www.businessinsider.in/searchresult.cms?query=cement+market">cement market</a>," the company said in a statement. 
 
After the completion of this <a href="http://www.businessinsider.in/searchresult.cms?query=transaction">transaction</a>, Birla Corp will consolidate its position in the east where demand supply scenario and outlook continue to remain buoyant. 
 Birla Corp, established in 1919, is part of the <keyword id="142702" type="COMPANY" weightage="40" keywordseo="MP-Birla-Group">MP Birla Group</keyword> with presence across cement and jute; cement constitutes over 90% of the company's revenues with a total operational cement capacity of 10 mtpa, it has units in Rajasthan, <keyword id="6355554" type="COMPANY" weightage="60" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, Uttar Pradesh and West Bengal. 
 
After the transaction, Birla Corp will have a total capacity of 15 mtpa. With addition of these brands to its existing basket of brands, Birla Corp will derive synergy benefits through consolidation of its capacity. 
 
Harsh Lodha, Chairman of Birla Corp, said: "I am very pleased to announce this very important transaction in Birla Carp's history. The business together with the Concreto and PSC brands, perfectly fit into our strategic vision and ambition of enhancing our competitiveness in our chosen markets. I am glad to welcome new talent and leaders to our Group, who share our convictions and professional culture. 
 
(Image: Indiatimes)

Birla Corp goes shopping for Rs 5, 000 crore

Adani Group-owned <keyword id="6374289" type="General" weightage="80" keywordseo="acc" source="Orion">ACC</keyword> and its promoter entity, <keyword id="105382" type="General" weightage="80" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword>, clarified on Thursday that none of the shares of <keyword id="6688113" type="General" weightage="100" keywordseo="ambuja" source="Orion">Ambuja</keyword> or ACC has been pledged by its promoters. Ambuja Cements' shares were up 5.96 per cent to Rs 354 apiece on Thursday morning session while ACC shares surged 0.40 per cent to Rs 1,853.70 apiece. In its statement today, Ambuja Cements said, "The promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top up under the acquisition financing raised last year." "We have come across reports from various market sources with respect to Ambuja and our subsidiary ACC Ltd (ACC), claiming that shares of both Ambuja and ACC are pledged by promoters as a part of the acquisition-financing," it said. The companies in the statement went on to add, "Consequently, there are market rumours that amid market volatility, there is a requirement to meet the top-up triggers where in there is selling pressure." Adani last year bought cement firms ACC and Ambuja Cements from Switzerland's Holcim for $10.5 billion. According to exchanges data, Ambuja Cements shares have been under pressure in the last five trading sessions amid the selloff in <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword> stocks on concerns over the US-based short seller Hindenburg Research's report. A pledge of stock or share pledge means using shares as collateral and taking a loan against them. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-says-it-would-not-have-been-morally-correct-to-continue-with-adani-enterprises-fpo/articleshow/97542675.cms">Gautam Adani says it would not have been ‘morally correct’ to continue with Adani Enterprises FPO</a> <a href="https://www.businessinsider.in/stock-market/news/gautam-adani-calls-off-adani-enterprises-fpo-after-28-crash-in-stock-price/articleshow/97534098.cms">Gautam Adani takes the high road and calls off Adani Enterprises FPO after a 28% crash in stock price</a> <a href="https://www.businessinsider.in/budget/news/income-tax-bonanza-capex-push-emerge-as-the-stars-of-budget-2023-24/articleshow/97521646.cms">Income tax bonanza, capex push emerge as the stars of Budget 2023-24</a>

Adani Group-owned Ambuja Cements, ACC clarify their shares not pledged by promoters

<ul><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Enterprises on Friday said it will raise Rs 20,000 crore in equity to fund the massive expansion of the business empire that now spans from ports to energy to cement. </li><li>Shares of Adani Enterprises Ltd (<keyword id="236769" type="General" weightage="80" keywordseo="ael" source="Orion">AEL</keyword>) have more than doubled in the last year, giving it a market value of Rs 4.46 lakh crore.</li><li>The group has a significant presence in ports, airports, roads, power, renewable energy, electricity transmission, gas distribution, real estate, FMCG, cement and financial services. </li></ul> Billionaire <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>'s conglomerate on Friday said it will raise Rs 20,000 crore in equity to fund the massive expansion of his sprawling business empire that now spans from ports to energy to cement. Adani Enterprises Ltd, the flagship firm of <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword>'s richest person, will raise funds through the issue of fresh equity shares, it said in a stock exchange filing. The public offering will help Adani Enterprises Ltd (AEL), which is the business incubator for the group and currently houses businesses from civil aviation to data centres, diversify the shareholder base and build its credibility and acceptance among investors. Promoters currently hold 72.63 per cent shares of AEL. Of the remaining 27.37 per cent, almost 20 per cent is held by insurance companies and foreign portfolio investors. Shares of AEL have more than doubled in the last year, giving it a market value of Rs 4.46 lakh crore. Benchmark S&amp;P BSE Sensex index has risen just 5.4 per cent over the same period. In the stock exchange filing, AEL said its board of directors met on Friday and approved the "raising of funds by way of a further public offering through a fresh issue of equity shares by the company aggregating up to Rs 20,000 crore." The company will seek shareholder approval for the offering through a postal ballot. The Adani group has previously stated that it is working on plans to increase the free float. Adani started AEL in 1988 with the commodity trading business and used it as an incubator of new businesses before spinning them off into separately listed firms. The group now has a significant presence in ports, airports, roads, power, renewable energy, electricity transmission, gas distribution, real estate, FMCG, cement and financial services. Recently, the group also entered the media business. Ports, power, transmission, green energy, gas and edible oil businesses are separately listed companies. The group has made forays into a diverse array of businesses with dealmaking in recent months. It recently acquired Holcim Ltd's India cement units for USD 10.5 billion, India's second-biggest deal of the year. It is also making a bid to take over New Delhi Television Ltd (<keyword id="6420486" type="General" weightage="50" keywordseo="ndtv" source="Orion">NDTV</keyword>). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/uks-asian-rich-list-hinduja-family-retain-top-spot-uk-pm-sunak-his-wife-make-debut/articleshow/95761539.cms">UK's Asian Rich list: Hinduja family retain top spot, UK PM Sunak, his wife make debut</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/construction-cost-of-greenfield-infra-projects-increased-by-5-7-q32022-cbre/articleshow/95762330.cms">Construction cost of greenfield infra projects increased by 5-7% Q32022: CBRE</a>

Adani Enterprises to raise ₹20,000 crore via a follow-on public offer

<ul><li>According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. </li><li>If Damani takes over India Cement, he is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. </li><li>Moreover, 74-year old Damani will then own 8 listed stocks including <keyword id="6420044" type="UNKNOWN" weightage="20" keywordseo="D-Mart">D-Mart</keyword>, Delta Corporation and Simplex Infrastructure. </li></ul>The 74-year old Radhakishan Damani, India’s second richest person and the owner of Avenue Supermart, has informally shown interest to take over India Cement. The retail king and his family have been buying shares of <keyword id="131875" type="COMPANY" weightage="20" keywordseo="India-Cements">India Cements</keyword> for quite a while now — increasing their holding to nearly 20%, as of March 31. Damani is the founder of Avenue Supermarts — the retail company which runs D-mart stores in India. The chain offers basic home and person use products, groceries, home appliances, garments and more at a bargain. He is among the only three billionaires in India whose wealth rose between March 2019 and March 2020. <div type="Article" hostid="261" msid="75119106" title="Half of all D-Mart stores are shut during coronavirus lockdown⁠— it shows that even the best in business are struggling" mstype="2" mssubtype="0"></div> According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. He added $2.5 billion in three months between January and March — making him the second richest person in India after Mukesh Ambani. His net worth doubled during the lockdown. Damani was worth $11.1 billion at the end of 2019, according to Forbes real time net worth index. He catapulted into one of the top 10 richest after a blockbuster IPO listing of Avenue Supermarts in 2017. After its debut, the share price of Avenue Supermarts increased more than three times the listing price (₹616). Its current market capitalization is around ₹1.5 lakh crore. If this deal goes through, Damani is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. Damani's stock portfolio is not limited to D-Mart. Damani’s stock portfolio <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delta Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VST Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Simplex Infrastructure </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foods &amp; Inns </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spencer’s Retail </td></tr></tbody></table> <a href="https://economictimes.indiatimes.com/markets/stocks/news/radhakishan-damani-said-to-mull-taking-control-of-india-cements-shares-up-10/articleshow/76417676.cms">According to Economic Times</a>, Damani’s control over India Cement will also help India Cement face rivals like UltraTech Cement, Lafarge Holcim Ltd. See also: <a href="https://www.businessinsider.in/business/news/the-impact-of-coronavirus-carnage-on-radhakishan-damanis-portfolio/articleshow/74661795.cms">The impact of coronavirus carnage on Radhakishan Damani’s portfolio</a> <a href="https://www.businessinsider.in/business/news/azim-premjis-generosity-crashed-the-wealth-of-indian-billionaires-by-16-billion/articleshow/75058443.cms">This man’s generosity crashed the wealth of Indian billionaires by $16 billion</a>

You Searched For "Holcim Ltd" and got 11 results

Vedanta appoints Sonal Shrivastava as CFO

PTI

Adani family infuses ₹6,661 crore in Ambuja Cements, increases stake to 66.7%

PTI

Both Ambuja Cements and ACC are bet worth investing with strong parent Adani

Bhakti Makwana

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

Bhakti Makwana

Adani Group cement buyout is actually a bet on its infrastructure business

Bhakti Makwana

India sealed M&A deals worth $104.3 bn this year, raised $6 bn from IPOs

IANS

MRF's profit in FY22 fell by almost 50% to ₹647 crore

IANS

Birla Corp goes shopping for Rs 5, 000 crore

BI India Bureau

Adani Group-owned Ambuja Cements, ACC clarify their shares not pledged by promoters

ANI

Adani Enterprises to raise ₹20,000 crore via a follow-on public offer

PTI

DMart owner Radhakishan Damani added more than $5 billion to his wealth in a year — and the billionaire now wants to take over India Cements

Preeti Soni

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