Up for sale, Emami Cement seeks valuation of Rs 8,000-9,000 crore

Group seeks to pare debt using sales proceeds; potential buyers feel valuation sought is high

The diversified Emami Group is seeking a valuation of Rs 8,000-9,000 crore for its cement business, which it intends to sell to raise money to pare debt. Potential buyers, however, feel the valuation which is sought is high.

A source close to this development told Business Standard that the valuation which is being sought is calculated based on globally accepted parameters based on per tonnage of cement production capacity, which stands at 8.3 million tonne per annum (mtpa).

According to this source, mining leases in Chhattisgarh, Rajasthan and Andhra Pradesh are also being calculated as part of the valuation. This component is