Dalmia Bharat - Divestment Of Non-Core Business To Augur Well: Axis Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Axis Securities Report.Dalmia Bharat Ltd. continues with its strategy of exiting non-core business/investment. In line with this strategy, it has entered into a binding agreement to sell the entire investment of 1,87,23,743 equity shares of Rs 10 each (42.36% of share capital) of Dalmia Bharat Refractories Ltd. – an associate company, at a consideration of Rs 800 crore. to M/s Sarvapriya Healthcare Solutions Pvt. Ltd. – a promoter group company. The transaction will be completed within 30 days i.e. on or before April 25, 2023 and the consideration for transfer of investment shall be received by Dalmia Bharat as follows: Rs 160 crore – 20% payment on the date of consummation of the transaction.Rs 320 crore – 40% by way of non convertible debentures redeemable on or before Dec 31, 2023.Rs 320 crore – 40% by way of NCDs redeemable on or before September 30, 2024 The NCDs will carry a coupon of 8.5% per annum payable quarterly. The company’s cement business now remains its core focus and it intends to become the pan India player. The overall cement capacity of the company will increase to 49 million tonnes per annum in FY24 with the completion of the ongoing expansion. Furthermore, it has signed a definitive agreement for acquiring JP Associates Cement assets of 5.4 mtpa located in the Central region. The company will update once the entire process of acquisition formally gets over..Click on the attachment to read the full report:.Dalmia Bharat - Divestment Of Non-Core Asset Continues: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Dalmia Bharat - Divestment Of Non-Core Business To Augur Well: Axis Securities

The company’s cement business now remains its core focus and it intends to become the pan India player.

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