Dalmia Bharat Enterprises Limited has acquired Adhunik Cement Limited for R560 Cr through its subsidiary-Dalmia Cement Bharat Limited.According to BSE filings,the acquisition and consideration shall be made in multiple tranches.This January,Dalmia Cement acquired 50%stake in Assam based Calcom Cement India Ltd for about R238Cr.In March this year,Ultratech Cement was planning to acquire Adhunik MSP Cement s Meghalaya plant for over R700Cr.Adhunik Cement is a JV between Adhunik Group and MSP Group,both based out of Kolkata.The company had invested R700Cr for setting up a cement plant in limestone-rich Jaintia Hills of Meghalaya.The plant has a capacity of producing 1.5 Mn tonne cement annually.It has also set up a 25MW coal-based captive power plant for uninterrupted power supply to its plant.The group currently seems to be in divestment mode and this is the third divestment by the group.In April,It sold 100%in Adhunik Metaliks forging subsidiary-Neepaz V Forge India Limited for an enterprise value of R230Cr to Nagpur Automotive Industries.In December,it sold 100%stake in Adhunik Power Transmission Limited to Deepak Cables India for an undisclosed amount.Recently,CRH,the Irish building materials group acquired 51%stake in Jaiprakash Associates cement operations in Gujarat at an enterprise value of about R4200Cr.Shriram Group acquired majority stake in Andhra Pradesh-based Sree Jayajothi Cements Limited,a cement manufacturer through Shriram EPC Limited and other Shriram Group companies.
