Dalmia Bharat Ltd. has entered into agreements to acquire cement and power assets of Jaypee Group, for an enterprise value of Rs 5,666 crore.
The Jaypee Group, formally known as Jaiprakash Associates Ltd., will sell its clinker, cement and power plants to the Dalmia Bharat Group—subject to due diligence, approval from lenders and JV partners of Jaiprakash Associates and regulatory authorities.
The acquisitions amount to cement capacity of 9.4 million tonnes, along with a clinker capacity of 6.7 million tonnes and thermal power plants of 280 megawatts. These assets are situated in the states of Madhya Pradesh, Uttar Pradesh and Chhattisgarh, according to an exchange filing.
“The acquisition will enable Dalmia to expand its footprint into the central region and will represent a significant step towards realization of its vision to emerge as a pan-India cement company with a capacity of 75 million tonnes by FY27 and 110‐130 million tonnes by FY31,” it said.