M&A

M&A

Anjani Portland Cement to acquire Bhavya Cements

BSE Disclosure  

Chennai-based, publicly-listed Anjani Portland Cement Ltd is to acquire a controlling stake in Hyderabad-based Bhavya Cements Pvt Ltd at INR 51.53 per share. The cash deal is projected to improve Anjani Portland's market presence with the addition of a new brand, and increase its cement manufacturing capacity substantially. Bhavya Cements, established in 2007, saw a turnover of INR 303.9 crore in FY20.