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Economy & Market

Nirma raises Rs.4,000 crore debt to fund Lafarge deal

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The money for funding the deal was raised by Nirchem, a Special Purpose Vehicle created by Nirma for the Lafarge buyout.

Ahmedabad-based detergent major Nirma has raised Rs 4,000-crore debt to buy the cement business of French major Lafarge India, reports the Mint newspaper. The deal had been agreed upon in July. "The Rs 4,000-crore five-year bond sale by Nirma offers a yield of 8.68 per cent, and was oversubscribed 1.5 times. This is the largest rupee bond sale for a leveraged acquisition as also the largest AA-rated debt instrument," investment banking sources have been quoted as saying in news reports. The money for funding the deal was raised by Nirchem, a Special Purpose Vehicle created by Nirma for the buyout. The company appointed Barclays, Credit Suisse and IDFC for managing the issue. The issue had been closed successfully and would be listed on the exchanges.

In July this year, Swiss cement giant Lafarge-Holcim had announced that it was entering an agreement to sell its assets in Lafarge India to Nirma for $1.4 billion or Rs 9,400 crore to get clearance from the fair trade regulator Competition Commission of India (CCI) for the deal as part of the global merger. The agreement, part of the building material major?s 3.5 billion Swiss franc (about $3.6 billion) divestment plan, is crucial for approval from CCI for the multibillion dollar global merger between Lafarge and Holcim that was announced last year.

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Economy & Market

Celebrating Haryana’s Wrestling Heroes: Nuvoco Concludes 45-Day ‘Sabse Khaas Pehelwaan’ Campaign

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Nuvoco Vistas Corp Ltd., India’s fifth-largest cement group by capacity, successfully concluded the grand finale of ‘Sabse Khaas Pehelwaan’, presented by Nuvoco Duraguard Cement, on May 2, 2025, at New Delhi’s iconic Talkatora Indoor Stadium. The wrestling championship, rooted in Haryana’s rich sporting culture, was a celebration of strength, resilience, and community pride—values that mirror the essence of Nuvoco’s Duraguard Cement brand.

The 45-day campaign attracted over 1,500 participants from all 22 districts of Haryana, culminating in a high-energy finale featuring the top contenders from district-level qualifiers. The competition included freestyle bouts across multiple weight classes for both men and women. The winners were awarded cash prizes of ₹1,00,000 for first place, ₹50,000 for second, and ₹25,000 each for the joint third-place finishers. Notably, champions such as Aakash Kumar (61 kg), Jaideep (74 kg), Anirudh (125 kg), Parveen (53 kg), Neha (62 kg), and Priya (76 kg) will also be featured as micro-market brand ambassadors, deepening Nuvoco’s local engagement.

Chirag Shah, Head of Marketing, Innovation and Sales Excellence at Nuvoco, said, “Sabse Khaas Pehelwaan brought our brand closer to the heart of Haryana by uniting sport, culture, and community. This platform not only showcased remarkable athleticism but reinforced Duraguard Cement’s brand values of strength and durability.”

Manish Kumar, Head of North Sales, added, “Haryana is a vital market for Nuvoco. Through this campaign, we’ve built authentic relationships and increased brand trust at the grassroots level. It has opened new avenues for engagement and sustainable growth.”

The event’s live broadcast, combined with vibrant community events and digital outreach, created a powerful blend of cultural celebration and brand building across one of India’s most dynamic regions.

 

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Concrete

UltraTech Cement boosts capacity with new clinker line

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UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

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Concrete

Ambuja Cements gets a new CEO

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Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

 

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