Equirus Capital acted as the financial advisor to DCBL for the transaction
Dalmia Cements (Bharat) Limited (DCBL), has raised private equity capital of up to INR 7,500Mn from KKR Mauritius Cement Investments Ltd (KKRMCIL) in it wholly owned subsidiary Avnija.
Equirus Capital acted as the financial advisor to DCBL for the transaction.
Dalmia Cements (Bharat) Limited (DCBL), one of the largest and fastest growing Cement manufacturer in India, has raised private equity capital of up to INR 7,500Mn from KKR Mauritius Cement Investments Ltd (KKRMCIL) in it wholly owned subsidiary Avnija. The investment will help the company strengthen its balance sheet and further expand its cement manufacturing capacity across India. The transaction is among the largest PE raise in the Indian cement sector.
About the transaction
Dalmia Cement (Bharat) Ltd. (DCBL), and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) today announced the signing of a definitive agreement under which KKR has agreed to invest Rs. 7.5 billion in DCBL’s wholly owned unlisted subsidiary Avnija. Post the proposed restructuring, Avnija will hold DCBL’s 9.00MTPA cement manufacturing capacity, DCBL’s 45.4% stake in OCL India Limited (5.35MTPA cement manufacturing capacity) along with the upcoming green field projects of 10.00MTPA across the country. KKR will invest Rs. 5.0 billion in the 1st tranche with Avnija having the option to draw an additional Rs. 2.5 billion from KKR at an appropriate time.
Equirus Capital acted as the financial advisor to DCBL for the transaction.
Dalmia Cement (Bharat) Limited (DCBL) Incorporated in 1935, Dalmia Cement (Bharat) Limited (DCBL) is the flagship company of the Dalmia Group with business interests in Cement, Sugar, Power and Refractories. Company’s plants are located at Dalmiapuram & Ariyalur in Tamil Nadu & Kadapa, in Andhra Pradesh. DCBL has already filled the restructuring scheme to segregate its cement assets into its 100% owned subsidiary Avnija. Post the proposed restructuring all Cement assets of DCBL
will be owned and controlled through its 100% subsidiary Avnija
About KKR Mauritius Cement Investments Ltd
KKR Mauritius Cement Investments Ltd is part of Kohlberg Kravis Roberts & Co. L.P.(KKR) – a leading global alternative asset manager, with $52.2 billion in assets under management as of December 31, 2009. With over 600 people and 14 offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR, has invested ~$1,100 million in private equity investments in India since 2006, which includes investments in Aricent, a global innovation, technology and services company; Bharti Infratel, a telecom infrastructure provider and Coffee Day Resorts, operator of the Café Coffee Day chain of cafes in India.
About Equirus Capital Private Limited
Equirus Capital is an Investment Bank and a Category I Merchant Bank offering advisory services in the areas of Mergers and Acquisition, Private Equity, Merchant Banking and Structured financing (including Real estate and Infrastructure financing). The Equirus team has strong domain knowledge and transaction experience in Engineering / Manufacturing, Education, Technology, Media and Telecom, Financial Services, Retail, Consumer / Business services, Infrastructure, Real Estate and Life Sciences verticals. Equirus commenced Institutional Equities & Research in January 2010 with Bhavin Shah as CEO
Equirus Capital has closed deals over $600 million since its inception in July 2007. Currently, the firm has presence in Mumbai, Bangalore, and Ahmedabad. Please visit www.equirus.com for more information on the team members and on the transactions closed.
Media Contact
Tatva Public Relations Pvt. Ltd.
Level 4,7 Raj Mahal,84 Veer Nariman Road, Churchgate, Mumbai 400 020,Tel:22833850,Mob:9819027649