In a move to fund its ambitious plan, DBL started to hive-off their non-core assets. In pursuant to the same, DBL announced divestment of its entire 42.36% equity interest in Dalmia Bharat Refractories Limited ("DBRL") held through it WoS Dalmia Cement [Bharat) Limited (DCBL).
Dalmia Bharat Limited ("DBL") is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 10 states and 14 manufacturing units, DBL is a category leader in super-specialty cement used for oil well, railway sleepers and airstrips and is the country's largest producer of Portland Slag Cement (PSC). The equity shares of DBL are listed on nationwide bourses.
Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of DBL inter-alia was holding 42.36% stake in Dalmia Bharat Refractories Limited ("DBRL").
Dalmia Bharat Refractories Limited ("DBRL") was engaged in providing a complete line of services including refractory design and layout for greenfield projects, refractory application and maintenance. In January 2023, DRBL sold its entire India Refractory Business to RHI Magnesita India Limited against 2,70,00,000 equity shares of RHI Magnesita India Limited representing circa 13.25% Stake valued at circa INR 1800 crore. The Equity shares of DBRL are listed on Metropolitan Stock Exchange & Calcutta Stock Exchange.
At the time of this transaction, DBRL shareholding pattern was 42.36% by DCL (through DCBL), 32.63% by Dalmia family in their personal capacity (total promoter holding being 74.99%) while remaining 25.01% is owned by public shareholders.
The Transaction
DCBL has entered into a binding agreement to sell its 42.36% stake in DBRL to a promoter group company called Sarvapriya Healthcare Solutions Private Limited at a consideration of ₹800 crores. The payment consideration for the same will come in as follows:
Esta historia es de la edición May 2023 de M & A Critique.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 2023 de M & A Critique.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
STRATEGIC MERGER SHALL CATAPAULT ASTER DM AS THE 3rd LARGEST HOSPITAL CHAIN IN INDIA
\"The resulting merged listed entity will be called Aster DM Quality Care Limited\"
STAMP DUTY EXEMPTION ON TRANSFER OF SHARES AS PART OF MERGER OF SUBSIDIARIES
A Writ Petition was filed by Ambuja Cements Limited (hereinafter \"the Petitioner\" or \"ACL\"), challenging the imposition of stamp duty on a merger order under Article 23 of Schedule IA of the Indian Stamp Act, 1899 by Collector of Stamps, Delhi (hereinafter \"Respondent\").
Acquisition of Plastic Injected Moulding Business from Sundaram Auto helps Pricol Group to a leadership position in Auto Component Sector
Recently, Sundaram Auto Components Limited, a wholly owned subsidiary of TVS Motor Company Limited approved the sale of its injection moulded plastic component solutions division to Pricol Precision Products Private Limited, a wholly owned subsidiary of Pricol Limited, as a going concern on a slump sale basis.
Simplifying the Corporate Structure - Merger of Inox Leasing and Financing with Gujarat Fluorochemicals
The board of Directors of some of Inox group entities have approved a Composite Scheme of Arrangement which provides for first demerger of Wind business of Inox Leasing and Finance Limited being a promoter group entity into Inox Holdings and Investments Limited and subsequently, merger of remaining Inox Leasing and Finance Limited into Gujarat Fluorochemicals Limited to provide direct holding of listed company to the promoters.
Cement Sector Consolidation Continues: Orient Cement to be acquired by Adani Group's Ambuja Cement
The shopping spree for the Adani group seems to be unstoppable. Recently, Adani group announced yet another acquisition in the cement space. This time it is Orient Cement Limited.
ITAT held that the reserve created on amalgamation is capital in nature and not taxable as perquisite
Recently, the Income Tax Appellate Tribunal, Mumbai held that the reserve created on amalgamation is capital in nature and not taxable as perquisite.
Mega Consolidation: SeQuent Scientific and Viyash Lifesciences backed by PE Carlyle Group
SeQuent Scientific Limited announced a merger which is expected to create a unique & differentiated platform with leading market position in Animal healthcare segment.
Raymond Group continues Segregation of its Business Verticals
After successful demerger of \"Lifestyle Business,\" Raymond Limited announced yet another restructuring to unlock further value for stakeholders.
Ultratech Cements adds India Cement in its shopping cart
India's Cement Industry is poised for consolidation. In recent past we have seen multiple large & small acquisitions in cement segment for consolidating positions.
Valor Estate Limited: "Diversification" to "Sepration" of Hospitality Business
“From investments in hospitality business, the demerger transaction will enable VEL to start its construction in hospitality”
