JSW among bidders for Reliance Infra assets

JSW among bidders for Reliance Infra assets

JSW Cement Ltd and J.K. Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd´s 5.5 million tonne cement assets, an official directly involved in the deal said. Reliance Infrastructure has decided to sell its cement business as it plans to focus on the defence sector. On 5 November, the company said it has shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business.

The deal offers cement companies such as JSW Cement and J.K. Lakshmi the opportunity to increase capacity swiftly. It is also one of the last large cement capacities up for sale. While JSW has an installed capacity of 6 mn t, J.K. Lakshmi Cement has 8.4 mn t. Reliance Infrastructure holds its cement assets under Reliance Cement.

JSW Cement, J.K. Lakshmi Cement and a few private equity firms are among the seven shortlisted bidders, the official cited above said, requesting anonymity.

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