Actis to buy stake in Dalmia Cements

Actis to buy stake in Dalmia Cements
Published: 13 March 2006

Private equity fund Actis is set to acquire an 11 per cent stake in India’s Dalmia Cements (Bharat) Ltd for US$25m, the Business Standard newspaper reported Monday.

The UK-based fund will invest in Dalmia Cements through a subscription to newly issued equity shares, said the paper, citing an unnamed source close to the deal. 

Dalmia Cements plans to raise INR7bn  through issue of new shares, with the proceeds to be used to finance part of the company’s plan to increase capacity at its cement and sugar businesses, the paper said.