A leading cement producer has acquired an 8.69% minority stake in a Meghalaya-based cement company from its promoters in a deal worth ?851 crore. The move comes amid rising competition in the cement sector, with major players consolidating their positions through acquisitions and capacity expansions.
The targeted cement company, incorporated in 2001, has a turnover of ?2,910.66 crore in FY24 and reported a profit after tax of ?295 crore. It operates seven plants with a workforce of 4,000 and aims to achieve a total manufacturing capacity of 25 MTPA by 2030. Its facilities are located in Meghalaya, West Bengal, and the Guwahati region, along with three grinding units.
The acquisition forms part of a broader trend in the sector, where large cement producers are acquiring smaller players and expanding capacity to strengthen their market presence and achieve targeted growth.
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