SHREE DIGVIJAY CEMENT - DON'T LET GO THE CHANCE
Article Abstract:
Grasim Industries Ltd (GIL), which holds a 42.41 stake in Shree Digvijay Cement Co Ltd (SDCCL), has made an open offer to buy an additional 20 percent stake in the company. GIL is offering Rs142.30 per share which is the same price that it offered to KK Bangur and SK Bangur. After the open offer, GIL's stake in SDCCL, a cement, jute goods, cement pipes and coir felt producer, is expected to increase to 62.41 percent. SDCCL has a capacity to produce 1.75 million tonnes of cement at its Digvijaygram in Jamnagar in Gujarat. It also has a capacity to produce 1440 tonnes per annum of coir and rubberised coir products at its units at Risha and Konnagar. (ag) ------------------------------------------------------------ Financial Results: Shree Digvijay Cement Co Ltd ------------------------------------------------------------ Particulars (Rs in crore) 1996-97 1997-98 ------------------------------------------------------------ Sales 290.62 192.46 ------------------------------------------------------------ PBDIT -5.60 -12.48 ------------------------------------------------------------ Interest 4.56 4.81 ------------------------------------------------------------ Net Profit -10.16 -17.29 ------------------------------------------------------------ >EN
Comment:
Makes an open offer to buy an additional 20% stake in Shree Digvijay Cement
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RAYON HOLDERS TO GET GRASIM SHARES FREE
Article Abstract:
Grasim will offer its shares free of cost to Indian Rayon (IR) shareholders for acquiring IR's cement business. The cement capacity of IR is 3 million tonnes. Its portland cement capacity is 0.36 million tonnes. Its portland cement business has been valued at Rs200-250 crore per million tonnes. IR's entire cement business has been assessed to be worth Rs600-750 crore. Grasim's scrip is now being traded at Rs160. IR's shareholders are likely to get 50 shares of Grasim for every 100 shares of IR. (gs)
Comment:
Will offer its shares free of cost to Indian Rayon shareholders for acquiring Indian Rayon's cement business
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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