Cement News tagged under: Jaiprakash Associates Ltd

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Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech

24 April 2015, Published under Cement News

Jaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order dated March 25, 2015...the High Court of Judicature at Allahabad has directed meetings of the equity shareholders and creditors of Jaiprakash Associates to be convened on May 16...for considering the scheme of arrangement between Jaiprakash Associates and Ultratech Cement Ltd," Jaiprakash Associates said in a...

Further disposals on the cards for Jaiprakash?

30 December 2014, Published under Cement News

Jaiprakash Associates Ltd may divest of two further cement units, channel checks by Mumbai broker Prabhudas Lilladher indicate. The two units reported to go on the block are Jaiprakash's 5Mta plant in the northern Indian state of Himachal Pradesh and the 2.2Mta works in Bhilai in the eastern state of Chhattisgarh. "We believe that exit of JPA (Jaiprakash) would be positive for the sector with the revival of rational pricing and sensible capacity addition," the research house said. Last...

UltraTech Board approves Jaiprakash Associates MP acquisition

24 December 2014, Published under Cement News

The Board of Directors of UltraTech have approved in principle the acquisition of the Madhya Pradesh assets of Jaiprakash Associates Ltd, which represents an entreprise value of INR54bn (US$852m). The acquisition includes an integrated cement plant with a clinker capacity of 2.1Mta and a cement capacity of 2.6Mta in Bela and an integrated unit at Sidhi with clinker and cement capacities of 3.1Mta and 2.3Mta, respectively. The deal also covers a 180MW thermal power plant complex of which 1...

Jaiprakash considers restructuring operations

25 July 2014, Published under Cement News

Jaiprakash Associates plans to consolidate its entire cement manufacturing operations under one company that it will eventually list on the stock exchanges, according to local press reports. An official source familiar with the development told Cogencis said that the restructuring exercise that the company is discussing with merchant bankers will award shares of the new company to the existing shareholders of the parent company. Manoj Gaur (executive chairman and founder's son) has given i...

India: ACC lined up to buy into two cement joint ventures

24 March 2014, Published under Cement News

ACC (Holcim) is likely to buy Jaypee Group 74 per cent stake in two separate cement joint ventures with state-owned steel maker Steel Authority of India Ltd, according to the Business Standard. The two joint ventures are located at Bhilai (Chhattisgarh) and Bokaro (Jharkhand) with a total capacity of just over 4Mta. Jaypee Group has been struggling with debts and has been in talks with ACC to hive off some assets. In a BSE filing, Jaypee Group said its Board would meet "to consider stake ...

India: delayed asset sale could help Jaiprakash Associates

23 August 2013, Published under Cement News

To overturn its spiralling debts, Jaiprakash Associates (JA) has been actively seeking to sell off its 4.8Mta cement plant in Gujarat. The release of such assets is seen as a necessity to aid the company's profitability and its stock rating. The company's current net debt levels are estimated at INR602.8bn (US$9.33bn) and JA aims to reduce this amount by INR60bn-70bn (US$9.3bn-10.85bn) The company is said to be in talks with UltraTech Cement over the Gujarat factory but the delay in closin...

Aditya Birla eyes stake in Jaiprakash cement business

26 June 2012, Published under Cement News

The Aditya Birla group is emerging as the frontrunner to acquire a stake in Jaiprakash Associates Ltd's (JAL) cement business, according to local press reports. "We have emerged as the front-runner. There were not too many serious players, except one multinational company," LiveMint quoted a senior Aditya Birla representative as saying. "The idea is to buy out a part of the stake from JP Associates' cements business. The acquisition could be as big as US$1bn." The exercise is aimed at redu...

Jaiprakash Associates 4Q profit down 7%, India

01 June 2012, Published under Cement News

Jaiprakash Associates Ltd, part of the Jaypee Group, reported a decline in its net profit for the fourth-quarter, despite higher income from cement and cement products. Net profit was INR283.61 crore or INR1.28/share, down seven per cent from INR303.61 crore (INR1.37/share) in the year-ago quarter. During the quarter, income from cement and cement products segment stood at INR1686.72 crore, compared with INR1,568.49 crore in Q4FY11, an increase of eight per cent. The construction division'...