Dalmia Cement Seals ₹2,850 Cr Deal for JP & Adani Assets

Dalmia Bharat Limited announced that its wholly owned subsidiary, Dalmia Cement (Bharat) Limited, has signed a business transfer agreement with Jaiprakash Associates Limited and Adani Infra (India) Limited to acquire cement assets located in Madhya Pradesh and Uttar Pradesh.

The transaction, valued at ₹2,850 crore, includes cement plants at Rewa, Churk, Chunar, and Sadwa with a combined cement production capacity of 5.2 million tonnes per annum (MnTPA) and clinker capacity of 3.3 MnTPA.

The acquisition also covers 99 MW of thermal power capacity and railway siding infrastructure at Rewa and Chunar, along with a shared railway siding facility at Churk.

Following completion of the deal, Dalmia Bharat’s total cement manufacturing capacity is expected to increase to 54.7 MnTPA. The company’s ongoing expansion projects at Belgaum, Pune, and Kadapa are projected to further raise total capacity to 66.7 MnTPA by the second and third quarters of FY28.

The transaction is expected to be completed within the next two weeks. Dalmia Cement had originally entered into agreements with Jaiprakash Associates in December 2022, though the process was delayed after JAL underwent insolvency proceedings under the Insolvency and Bankruptcy Code (IBC).

Puneet Dalmia said the acquisition represents a strong strategic fit for the company, supporting its ambition to strengthen its pan-India presence and expand in high-potential central Indian markets. He added that the assets’ expansion potential and proximity to Dalmia’s captive mines could help create a significant future manufacturing hub.

News by Rahul Yelligetti.