Dalmia Cement (Bharat) Ltd will raise US$100m by March through stake sale in subsidiary Dalmia Cement Ventures Ltd, its managing director said.
“We have been talking to private equity players and we think we can make an announcement this quarter,” Puneet Dalmia told Reuters in an interview, adding the fund will be used to set up a 5Mta cement plant.
Dalmia Cement will also announce a restructuring plan, wherein four companies will house each of its four businesses – cement, sugar, power and refractory, Dalmia said.
