M&A

M&A

Merger of Dalmia Cement's North East arm with Vinay Cement gets NCLT nod

BSE Announcement   Economic Times  

The National Company Law Tribunal (NCLT), Guwahati Bench, has directed the demerger and transfer of the cement and mining business operations from Vinay Cement Ltd, a subsidiary of Dalmia Cement, to another material subsidiary, Dalmia Cement (North East) Ltd.The parent company, Dalmia Bharat, is not a party to the Scheme, and no shares are set to be issued by or to the company as part of this arrangement. Both subsidiaries will remain operational under the Dalmia Bharat fold after NCLT's approval.Established in 1986, Vinay Cement is engaged in manufacturing cement and non-metallic mineral products, serving various construction and infrastructure projects.

For FY24, Vinay Cement had reported about INR 9.46 Cr in Operating Income and about INR 10.02 Cr in PAT.