Dalmia Bharat joins the Holcim India race

Dalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta.   

UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance from the competition authorities.

Reports on Livemint suggest that should UltraTech be successful in its bid, it would dispose of a number of assets to ensure the combined market share of UltraTech and the Holcim businesses does not exceed 40 per cent.   

Dalmia and UltraTech join Adani and the JSW Group who have already expressed interest in the Holcim assets.