Shree Cement to acquire 1.50 MTPA cement grinding unit of Jaiprakash Associates in Haryana

26 Aug 2014

Shree Cement has received an approval to acquire 1.50 MTPA cement grinding unit of Jaiprakash Associates situated at Panipat in the state of Haryana ongoing concern basis for consideration of approximately Rs 360 crore. The board of directors at its meeting held on August 25, 2014 has approved for the same.

The above is however subject to adjustment for any financial indebtedness and net working capital taken over as of the closing date and subject to satisfactory completion of due diligence and obtaining necessary approvals and consents.

Shree Cement (SCL), belonging to B G Bangur - H M Bangur faction of Bangur family of Kolkata, is engaged in manufacturing of cement and power generation. SCL’s eight cement plants in Rajasthan and one grinding unit in Uttrakhand have an aggregate capacity of 13.5 mn tonnes p.a.

Related Shree Cement Ltd. Links:

Shree Cement Share Price

20402.20 -135.55 (-0.66%) Oct 26, 18:01
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 4482.15
ACC 1578.70
Shree Cement 20402.20
Ambuja Cement 245.00
Dalmia Bharat 828.80
View more..
Sensex vs Shree Cement
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback