Sagar Cements to file plan for acquiring Andhra Cements soon

11 Aug 2022 CW Team

Sagar Cements will submit a resolution plan for acquisition of Andhra Cements before August 18, and expects to get the necessary clearance for the deal by October.

The directors of Hyderabad-based Sagar Cements had on July 20 approved a proposal to submit a resolution plan in respect of the corporate insolvency resolution process initiated by the Hyderabad Bench of National Company Law Tribunal (NCLB) on an application filed in respect of Andhra Cements Ltd, a ‘corporate debtor’.

“We are filing the resolution plan and cannot reveal much for now,” Sreekanth Reddy. Joint Managing Director, Sagar Cements, told a newspaper. According to industry sources, the deal size could be around Rs 14 billion.

On the timeline, Reddy said, “The resolution plan needs to be submitted before August 18, we should get all the clearances somewhere around end of September to early part of October. So, from whatever little diligence we have done, it looks like it might need about three-months for maintenance before we can start.”

Andhra Cement has 1.65 million tonne capacity for clinker and 1.8 million tonne for grinding at the integrated plant in Dachepalle in Guntur, and 0.8 million tonne grinding capacity in Visakhapatnam.

Sagar Cements had production capacity of 8.25 million tonnes as of end- March 2022. It has targeted achieving 10 million tonnes capacity by FY25.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..