Emami Cement Limited

Emami Group agreed to sell its cement business, Emami Cement Ltd, to Nuvoco Vistas Corp. Ltd (a Nirma group company) for an enterprise value of ₹5,500 crore. The deal includes an integrated cement plant in Risdah, Chhattisgarh, and grinding units in Bihar, West Bengal, and Odisha, with total capacity of 8.3 mtpa.

Emami Ltd completed the sale of Emami Cement to Nuvoco Corp Ltd for an enterprise value of INR 55 billion (US$724.83 million). Emami Cement has a production capacity of 6.8 Mta and a 2.5 Mta plant under construction.

The Competition Commission of India (CCI) approved the acquisition of 100% of Emami Cement Limited by Nuvo Vistas Corporation Limited, a Nirma promoter group company. Nuvo Vistas operates cement plants in multiple Indian states, and Emami Cement has plants in West Bengal, Chhattisgarh, Bihar, and Odisha.

The Competition Commission of India approved the acquisition of 100% of Emami Cement Ltd by Nuvoco Vistas Corp Ltd (part of the Nirma group) for an enterprise value of ₹5,500 crore.

Nuvoco Vistas Corporation, part of the Nirma Group, entered into a share purchase agreement to acquire 100% of Emami Cement for an enterprise value of Rs 5,500 crore, including plants in Chhattisgarh, Bihar, West Bengal, and Odisha.

UltraTech Cement Ltd has emerged as the front-runner to buy Emami Cement Ltd in an all-cash deal worth ₹6,500-7,000 crore, with the final binding bid round expected to end next week.

Emami Cement Limited announced plans to increase its total production capacity to 6 MTPA, with a new 2 MTPA grinding unit in Jajpur, Odisha, India, costing Rs 600 crore, expected to be commissioned by March 2018.

Emami Cement Limited commissioned its grinding plant at Panagarh, West Bengal, with a capacity of 2 million tonnes per annum. The plant required an investment of around Rs 700 crore and is expected to generate direct and indirect employment for more than 500 people.