Jaiprakash owns a 74 percent stake in Bhilai Cement, with the rest held by state-run Steel Authority of India (SAIL). The cement unit, with yearly revenue of about Rs 800 crore, has debt of Rs 600 crore. After adjusting for this, the equity value of the deal would be between Rs 1,100 and 1,200 crore.
Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.
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