Dalmia receives investment from KKR

Dalmia receives investment from KKR
14 September 2010

Dalmia Bharat Enterprises said it has received INR500 crore investment from private equity firm KKR in Avnija, manufacturer of Dalmia brand of cements.

In last May, Dalmia Cement and KKR had inked an agreement to invest INR750 crore for use in both sequential and merger & acquisition-based growth of the cement making firm. 

"The additional capital enables us to consolidate our existing market position, deleverage our balance sheet and pursue attractive organic and inorganic growth options, given the current down cycle," Dalmia Cement’s Managing Director Puneet Dalmia said in a company statement. 

Dalmia Bharat Enterprise is a leading cement manufacturer with plants in Tamil Nadu and Andhra Pradesh with a capacity of 9Mta. 

Published under Cement News