Economy & Market

CVCI in fray for Rs 400 cr Shriram cement stake

Published

13 years ago

August 29, 2012

admin

After other private equity firms opted to be out of the fray, Citi Venture Capital International (CVCI) is holding talks to invest Rs 400 crore in the cement unit of the diversified southern conglomerate Shriram Group.The $9-billion Shriram Group initiated the process to sell stake in Sree Jayajothi Cements in which it acquired 70 per cent stake earlier this year following conversion of loans into equity. Private equity biggies like Blackstone, Kohlberg Kravis Roberts & Co and Mount Kellet had shown initial interest, but CVCI appears to be the investor in serious discussions.Sources said that CVCI team, which manages India investments, has had detailed discussions with Shriram on the possible deal. It still has not reached a definite stage, the sources added. CVCI is an emerging markets focused private equity group that invests behind entrepreneurs and business families. It recently invested Rs 764 crore in an arm of Mumbai-based holiday maker Cox & Kings.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

admin

Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

admin

Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

admin

According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/