Mumbai: Nirma Group-backed Nuvoco Vistas offered ₹1,800 crore to acquire Vadraj Cement, outbidding Adani Group at an auction under the court-monitored corporate insolvency process, said people aware of the matter.JSW Group, JK Cement and ArcelorMittal were among other bidders in the fray. Adani group-backed Ambuja Cement had partnered with Prudent ARC-backed RKG Fund to acquire the Gujarat-based cement company that has a 6 million-tonne grinding unit in Surat and a 3.5-million-tonne clinker capacity in Kutch. At the auction, Adani quit at the sixth round after giving its last offer of ₹1,750 crore, the people said.
Of the ₹1,800 crore offered by Nuvoco Vistas, ₹1,725 crore is for repaying financial creditors’ dues, and the…