Dalmia Cement (Bharat) Ltd will raise $100 million by March through stake sale in subsidiary Dalmia Cement Ventures Ltd, its managing director said on Thursday.
“We have been talking to private equity players and we think we can make an announcement this quarter,” Puneet Dalmia told Reuters in an interview, adding the fund will be used to set up 5 million tonnes cement plant.
Dalmia Cement will also announce a restructuring plan by March, wherein four companies will house each of its four businesses — cement, sugar, power and refractory, Dalmia said. (Reuters)