News
Jaypee Group sells part of its cement business to Ultratech


In one of the biggest deals in the domestic cement industry, debt-ridden Jaiprakash Associates on Thursday announced part-sale of its cement business to Kumar Mangalam Birla-led Ultratech for Rs 15,900 crore.
According to media reports, the size of the deal announced last month has been reduced from Rs 16,500 crore as Jaiprakash Associates Ltd (JAL) decided not to sell its cement plant in Karnataka with a capacity of 1.2 million tonnes per annum (MTPA).
The reports said in a filing to the BSE, JAL said, “Board today approved the definitive agreement with Ultratech Cement Ltd (UTCL) for sale of part of its cement business comprising identified operating cement plants with an aggregate capacity of 17.2 MTPA spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, besides a grinding unit of four MTPA capacity, which is currently under implementation in UP.”
Both the parties have mutually agreed to exclude Shahabad plant in Karnataka from the transaction, it added. “The total enterprise value is Rs 15,900 crore and additional amount of Rs 470 crore shall be paid by UTCL for completion of the grinding unit under implementation,” it said.
The deal will help JP Associates reduce its debt, which runs into thousands of crores of rupees.
The transaction is subject to various regulatory approvals including stock exchanges, Competition Commission of India, shareholders and creditors as well as the sanction of the scheme of arrangement by the HC of Mumbai and Allahabad.
“The consummation of the transaction is expected to take 9-12 months,” JAL said in the filing.
Post-deal, JAL will retain 10.6 MTPA cement capacity spread over the states of Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka.
-
News2 weeks ago
Industrial & Warehousing Real Estate Records 24.5% YoY Demand Growth in H1 2025: Savills India
-
News4 weeks ago
Noida’s Real Estate Market Soars: Residential, Commercial Sectors Witness Unprecedented Growth
-
News4 weeks ago
‘GROHE Thinks Differently, Plans to Expand to Another 100 Indian Cities’
-
News4 weeks ago
Yamuna Expressway Emerges as NCR’s Next Real Estate Powerhouse
-
Guest Column4 weeks ago
How AI is Reinventing Real Estate, Why it Matters to India
-
News2 weeks ago
Actor-Director Aatish Kapadia, Wife Buy Apartment Worth ₹15.31 Cr in Mumbai
-
News3 weeks ago
Yogi Adityanath Announces Formation of Greater Ghaziabad
-
News3 weeks ago
Why Sonipat Emerging as NCR’s Smart Investment Destination