Other Deals - Listed Firms
Dalmia Bharat Refractories sells 11.11% stake in RHI Magnesita India for Rs.826-Cr
BSE Announcement Business Line RHI Magnesita India
New Delhi-based Dalmia Bharat Refractories has sold a 11.11% stake in fellow publicly listed RHI Magnesita India , the Gurugram-based local arm of Austria-based RHI Global, for INR 826 crore through an open market transaction on the NSE. The block deal involved the offloading of over 2.29 crore shares at an average price of INR 360 a piece. Post transaction, Dalmia Bharat Refractories’ shareholding in the company has decreased to 1.43%.Founded in 2010, RHI Magnesita India is a supplier of refractory products.
In Nov-2022, RHI Magnesita had acquired the refractory business of Calcutta Stock Exchange listed, Dalmia Bharat Refractories Ltd - an associate company of BSE listed, Delhi-based Dalmia Bharat Limited - for about INR 1,708 crore via a shareswap deal.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
