Cement Bag
| Photograph Credit score:
iStockphoto
Nuvoco Vistas Company, the cement enterprise of Nirma Group, on Tuesday introduced the acquisition of Gujarat-based Vadraj Power in a ₹200-crore deal from JSW Cement Ltd and Alpha Alternate options Holdings.
It has “executed Securities Buy Settlement for acquisition of 100 per cent of securities of Algebra Endeavour Personal Ltd (the holding firm of Vadraj Power (Gujarat),” stated Nuvoco Vistas, the nation’s fifth largest cement market in a regulatory replace.
Vadraj Power (Gujarat), a completely owned subsidiary of Algebra, has energy vegetation at Kutch and Surat, and the stated amenities shall be utilised by the corporate for Nuvoco Vistas’ captive energy consumption, it stated.
The take care of full “money consideration” is anticipated to be “closed inside 10 days from the date of completion of all of the situation precedents entailed within the SPA,” it stated.
Algebra Endeavour is engaged within the enterprise of offering advisory companies and funding actions.
Confirming the event, JSW Cement additionally stated it has “a Securities Buy Settlement amongst Nuvoco Vistas Company (Purchaser), JSW Cement Restricted (the Firm – Vendor 1 therein) and Alpha Alternate options Holdings (Vendor 2) for the switch of 100 per cent of the securities of Algebra respectively held by the sellers to the Purchaser.”
Nuvoco is India’s fifth-largest cement group by capability, reaching 35 MTPA (million tonnes every year) and is the main participant in East India.
Earlier this yr, the Mumbai bench of the Nationwide Firm Regulation Tribunal (NCLT) had accepted Nuvoco Vistas’s bid for Vadraj Cement, which incorporates an upfront fee of ₹1,800 crore.
Shares of Nuvoco Vistas Company had been at ₹364.15 within the morning commerce, down 0.86 per cent from the earlier shut.
Revealed on November 18, 2025