In a bid to trim debt of Rs 60,000 crore by disposing off assets, Jaiprakash Associates is reportedly in talks with Shree Cement to sell its 2.1 million tonne Bhilai Cement unit for Rs 1,800 crore. The negotiation with Shree Cement is at an advanced stage and the deal is likely to be completed by October.
Jaiprakash owns a 74 percent stake in Bhilai Cement, with the rest held by state-run Steel Authority of India (SAIL). The cement unit, with yearly revenue of about Rs 800 crore, has debt of Rs 600 crore. After adjusting for this, the equity value of the deal would be between Rs 1,100 and 1,200 crore.
Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
| View more.. | |
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