The BK Birla group-controlled Mangalam Cement Ltd and Mangalam Timber Products Ltd have been merged to attain value of scale. The consolidation will help inefficient utilization of their resources, reduction in overheads and other expenses and improvement in other parameters.
Mangalam Timber Products Limited (MTPL), a listed company primarily engaged in the manufacture of Medium Density Fibre Board (MDF) and sells its products under the brand name “DURATUFF”. MDF is used in making furniture, Particleboard, Doors and all kind of carpentry all kinds of carpentry work.
Mangalam Cement Limited (MCL), a listed company having a registered office in Kota Rajasthan. A well-established cement manufacturing company having two cement manufacturing plants located at Morak, Rajasthan, and Aligarh, Uttar Pradesh producing Ordinary Portland Cement (OPC) and Portland Pozzolana Cement (PPC) and marketed under the brand name of "Birla Uttam". MCL has also set up two Captive Thermal Power Plants of 17.5 MW each. Apart from this, MCL also owns 13 (Thirteen) Wind Mills at Jaisalmer, Rajasthan with an aggregate capacity of 13.65 MW generation per day. Recently, the Company has invested approximately Rs.100 Crores in a Waste Heat Recovery unit (WHR) with a capacity of 11 MW at Morak plant which is scheduled to be commissioned in October 2019.
MCL holds a 3.55% equity stake & all 7.5% Non-Cumulative preference shares of MTPL worth INR 25.96 crores since February 2012. Both MTPL & MCL are part of BK Birla Group companies and hence are under common management.
The Transaction:
With the appointed date for the same is 1st April 2019, subject to regulatory approvals, MTPL will merger with MCL.
Denne historien er fra November 2019-utgaven av M & A Critique.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 2019-utgaven av M & A Critique.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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.
