The Competition Commission of India (CCI) has approved Dalmia Cement's acquisition of cement, clinker, and power plants of Jaiprakash Associates Limited (JAL) for an enterprise value of ₹5,666 crore. The transaction, once approved by all regulators, would result in Jaiprakash Associates exiting the cement business completely. The plants being sold under the deal are located in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh, and the acquisition will enable Dalmia Cement to expand its footprint into central India, becoming a pan-India company with a capacity of 75 million tonnes by FY27 and 110-130 million tonnes by FY31.
Dalmia Cement is a wholly-owned subsidiary of Dalmia Bharat Limited (DBL), which has been in the cement manufacturing and sales business for over 80 years and is the ultimate parent entity of the Dalmia Bharat Group. The target assets are engaged in the manufacture and sale of clinker in India, manufacture and sale of grey cement primarily in Madhya Pradesh, Uttar Pradesh, Chhattisgarh, and coal-based thermal power generation primarily for captive consumption purposes in India.
There were reports in January that Jaiprakash Associates had defaulted on loans amounting to Rs 4,059 crore, comprising both the principal and interest amount.
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