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
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”
SIEMENS Energy to be a separate entity in alignment with global strategy
Siemens AG announced its Vision 2020+ which included the spin-off of its Gas & Power [G&P) i.e., Energy Business into Siemens Energy.
Arvind Group separates its Advanced Material Business for independent growth trajectory
Advanced Material Business (AMD) of Arvind Limited focuses on advanced materials and caters to customer needs across the textile value chain, including specialty yarns, fabrics, and ready-made products.
Merger for bail-out from debt obligation
Ind Swift Limited (herein after also referred to as 'ISL' or 'Transferor Company') is engaged in the business of manufacturing of Pharmaceutical Products.
Batliboi Ltd. merging its associate company
Batliboi Limited has a history of collaborations with various foreign technical partners and has subsidiaries like Hydraulic & General Engineers Ltd. and Batliboi International Ltd. In March 2024, the board of Directors of Batliboi Limited accorded their approval for the merger of promoter owned private company with itself.
TVS Motors issuances of convertible preference shares as bonus instead of dividend
Recently, well known auto manufacturer announced the issuance of preference shares as a bonus to all equity shareholders.
Aditya Birla Fashion & Retails Scheme to undo its consolidation
Corporate restructuring saga continues for Aditya Birla Group.
Advent International to combine its listed & private entity business
Recently, Advent International announced the merger of its privately held pharma company into recently acquired listed pharma company.
