Emami Cement

Last month, the Emami Group completed divestment of its 100 per cent stake in Emami Cement to Nuvoco Corporation

In February, Nuvoco Vistas -- formerly Lafarge India Limited -- announced that it would acquire the 8.3 million tonne per annum cement business of Emami for an enterprise value Rs 5,500 crore

Sources in the know said the amount was being paid to show 'Nuvoco's commitment' to finalise the agreement, which it signed with Emami last month for acquisition of the cement assets

The promoters' debt, that is loan against shares, is Rs 3,000 crore

In December last year, Emami Cement had filed for its IPO with market regulator Securities and Exchange Board of India (Sebi) to issue fresh equity shares worth Rs 500 crore

Emami inks deal with Nuvoco Vistas for sale of 100% stake

Nuvoco is among the bidders for Emami Cement, which has picked Arpwood Capital and Credit Suisse Group AG to manage the sale of the unit as Bloomberg News previously reported

World GDP growth will be less than three per cent, and even with revised estimates, India's GDP growth will be more than the global average, says Hari Mohan Bangur

Emami Group has decided to monetise its cement assets to pare debt and aims to become debt-free at the group level by the end of the current fiscal year

Post consolidation of Century and Binani Cement assets, new acquisitions at stretched valuations may not bode well, say analysts

Promoters currently hold 64.79 per cent in the company, while foreign portfolio investors have an 11.88 per cent stake.

Emami Cement is currently focussed on east India, with its plants in Risda in Chhattisgarh, Panagarh in West Bengal, and Jajpur in Odisha

The bankers will start reaching out to prospective buyers for Emami Cement Ltd., seeking a valuation of about $1 billion

Since the assets which can help reduce debt are yet to be identified, health care assets are also under consideration

The IPO comprises of equity shares of face value of Rs 10 each aggregating up to Rs 1,000 crore comprising a fresh issue aggregating up to Rs 500 crore and an offer for sale up to Rs 500 crore

Company to issue fresh equity shares worth Rs 5 bn; another Rs 5 bn worth of promoter group's shares to also be sold

The Kolkata headquartered company is a part of the Emami Group and has cement plants in West Bengal, Chattisgarh and Odisha

Company has bagged limestone deposits in both the states, will focus largely on domestic market