Nuvoco Vistas Corporation, a Nirma Group company, has secured approval from the National Company Law Tribunal (NCLT) to acquire Gujarat-based Vadraj Cement (VCL) for Rs 18 billion under the Insolvency and Bankruptcy Code. The acquisition will be executed through its wholly-owned subsidiary, Vanya Corporation, which will later be merged with VCL. 

This strategic move boosts Nuvoco's cement production capacity to 31 million tonnes per annum (MTPA) and clinker capacity to 17 MTPA by Q3FY27, making it the fifth-largest cement group in India. The acquisition significantly strengthens Nuvoco's presence in western India, elevating it to the third-largest cement player in Gujarat and Maharashtra by capacity. 

The company has described the acquisition as a value buy, noting a competitive cost of around $60 per tonne—well below recent industry benchmarks. Nuvoco also plans to invest an additional Rs 9–12 billion into Vadraj Cement over the next 18 to 24 months to scale operations and drive growth. 

(moneycontrol)