Dalmia Bharat to acquire Murli Industries

Dalmia Bharat is set to acquire the bankrupt Murli Industries, according to The Economic Times. The deal represents an investment of close to INR4bn (US$62.4m) by Dalmia. The company will also cancel almost the entire equity of Murli Industries.

Dalmia won the bid on Wednesday, despite Gajanan Oil submitting a higher cash offer.

Including interest and fines, Murli Industries had accumulated INR17bn in debt. Murli has an integrated cement plant with a capacity of 3Mta.