Mumbai: Several strategic buyers as well as investors are actively scouting for cement manufacturing companies which are currently undergoing the corporate insolvency resolution process under the Insolvency & Bankruptcy Code.One of the most sought-after assets in the sector is the cement business of debt-laden Jaiprakash Associates Ltd (JAL). The company has four plants in North and Central India and has a capacity of about 6 million tonnes per annum. Its plants are at Rewa in Madhya Pradesh and Chunar, Churk and Sadwa in Uttar Pradesh.
The company’s resolution professional, Bhuvan Madan, has received expressions of interest from companies including Adani Enterprises, Dalmia Cement (Bharat) Ltd, Vedanta Ltd and Rashmi Metaliks Ltd. Apart…
