Sagar Cements gets NCLT nod to acquire Andhra Cements

23 Feb 2023 CW Team

The Amravati bench of the National Company Law Tribunal (NCLT) has authorised a bid of Sagar Cements to acquire Andhra Cements for Rs 9.22 billion; the Jaypee Group cement maker now facing insolvency procedures would continue to be listed on the bourses.

On February 16, the Sagar Cements board of directors authorised a plan to roughly quadruple Andhra Cements' capacity to 3 million tonne per year, at a cost of Rs 4.68 billion.

Sagar Cements intends to raise Rs 6.22 billion in loan and Rs 3.22 billion in equity of the proposed acquisition cost of Rs 9.22 billion.

The acquisition gives Sagar Cements a 95 percent share in Andhra Cements, with the public owning the remaining 5%.

Clarifying that Andhra Cements will stay listed, Sagar Cements stated that it will lower its holding to 90% within 12 months and to 75% within 36 months from the date of NCLT clearance.

Also Read
DMRC to build metro lines in Bahrain
Dalmia Cement Bharat Limited to build a green supply chain

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..