Nuvoco Vistas Corp Ltd has emerged victorious in the acquisition of Vadraj Cement Ltd, currently under corporate insolvency resolution. The Committee of Creditors has approved Nuvoco’s resolution plan, and a Letter of Intent has been issued.
The acquisition will be managed through Vanya Corporation Pvt Ltd, a Nuvoco subsidiary. The company plans to finance this acquisition without significantly elevating its debt levels, aiming for a phased investment over 15 months to refurbish assets and enhance Vadraj Cement’s operational output.
Upon successful integration, Nuvoco’s production capacity will reach 31 million metric tonnes per annum, solidifying its rank as the fifth-largest cement producer in India. The deal also promises…
