Reliance Infrastructure is reportedly planning to sell its cement business. In this regard, the company has short listed seven potential buyers from a total of 15 parties that had submitted preliminary expressions of interest.
The company’s promoters are hoping an enterprise valuation of Rs 5,500-6,000 crore for the business. The cement business, which has an annual production of capacity of 5.6 million tonnes, had incurred a loss of Rs 39 crore in the June quarter.
Moreover, the company is planning to monetize its roads business. The roads business comprises 11 revenue-generating projects of about 1,000 km across seven states. The roads business has attracted preliminary interest from strategic and portfolio institutional investors in India and overseas.
Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai, and supplying power to around 29 lakh consumers.
