Mapping insolvency: UltraTech open to raising Binani Cement offer

UltraTech Cement has indicated it would increase its offer yet again for acquiring bankrupt Binani Cement if the Dalmia Bharat-led consortium matched its last offer. 

UltraTech Cement recently upped its offer to Rs 79.6 billion after a second round of revision, outbidding Dalmia Bharat’s offer by Rs 11 billion.

While presenting his case before the Kolkata Bench of the National Company Law Tribunal (NCLT) on Thursday, Mukul Rohatgi, representing UltraTech Cement, said: “Ask Dalmia Bharat to increase its bid and match our offer. In case it does, we will again increase our bid by another Rs 5 billion.” He was