Dalmia Bharat to raise Rs.4,000-Cr to expand cement capacity

New Delhi-headquartered, publicly listed cement manufacturer Dalmia Bharat plans to raise Rs 4,000-Cr to support its growth plans. The proceeds are intended for capital expenditure, repayment of debt, working capital requirements, and investments in subsidiaries.The company is the fourth-largest cement manufacturer in India and currently maintains a significant presence in the eastern, northeastern, and southern regions. Dalmia intends to use the capital to reach a total manufacturing capacity of 110-130 million tonnes per annum (MTPA) by FY31 through a combination of greenfield projects, brownfield expansion, and acquisitions.The company recently invested over Rs.6,800-Cr for capacity additions in Belgaum, Pune, and Kadapa and entered an agreement to acquire cement assets from Jaiprakash Associates for an enterprise value of Rs.2,850-Cr.