In line with the continuing endeavour of Jaypee Group's resolve to reduce its debt, Jaiprakash Associates (JAL) & its associate company, namely, Jaiprakash Power Ventures, have signed a binding Framework Agreement for divestment of the identified Cement, Clinker and Power Plants having aggregate cement capacity of 9.4 MnT, along with Clinker capacity of 6.7 MnT and Thermal Power plants of aggregate capacity of 280 MW, to Dalmia Cement (Bharat) (DCBL), wholly owned subsidiary of Dalmia Bharat, for an aggregate Enterprise Value of Rs 5,666 crore. The said plants are situated at Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.
The transaction is subject to due-diligence, receipt of the requisite statutory approvals and necessary compliances including the approvals from lenders / JV partner of JAL and regulatory authorities. With a view to fulfill the commitment to reduce its debt, the Group has already divested its various Cement and Power Plants to other leading industrial Groups of the Country. The present transaction with Dalmia Group yet again demonstrates the quality of assets of Jaypee Group.
Jaiprakash Associates (JAL) is the engineering and construction arm of the Jaypee group focused on development of river valley and hydro electric projects and a leader in construction of river valley and hydropower projects on turnkey basis for more than four decades.
| 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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