Binani Cement

Not a penny to equity holders as DHFL bidders value firm's shares at zero

Investors baffled as DHFL had a market valuation of Rs 941 cr on Monday, with its stock trading at Rs 30 a share even after the company was sent for bankruptcy proceedings

Cement players with focus on North and Central India remain better placed

Most regions show cement prices per 50 kg bag to have improved by 0.7-5.0 per cent, while average prices in South India are still down 0.4 per cent.

Change in Binani brandname, quality upgrade spur UltraTech turnaround

The last part of the series on the Insolvency and Bankruptcy Code takes a look at how Ultratech's acquisition of Binani helped it become North India's biggest cement firm by capacity

After acquisition, Binani Cement renamed as UltraTech Nathdwara Cement

The acquisition has provided UltraTech "immediate earnings with ready to use assets"

IFCI receives Rs 4.92 billion for Binani Cement under resolution plan

Shares of IFCI settled at Rs 13.71 per scrip, up 0.81%, on the BSE

SC verdict on Binani Cement's takeover a relief for its former promoter

Lenders not to invoke guarantee against Braj Binani; UltraTech boosts production capacity

After bagging Binani, UltraTech hopeful of increasing profits in N India

However, takeover will help cement firm to widen leadership gap in northern market

How Birla's win in the battle for Binani reshapes India's bankruptcy focus

The order will probably set a precedent for other companies in insolvency proceedings and may jeopardize the 270-day timeline laid down to resolve such cases

Binani's operational creditors optimistic after admission of claim

The operational creditors are claiming parity with financial creditors, and now their plea has been clubbed with another petition by Sanjay Singal, chairman and managing director of BPSL.

Insolvency process: SC asks Binani Cement pleas to be moved to NCLAT

Sources suggested the SC order might be aimed at an speedier closure of the litigation process

Piramal-Birla friction surfaces over Binani cement acquisition at PM meet

Piramal and Birla are pitted against each other in the National Company Law Tribunal (NCLT) process for the acquisition of Binani Cement

Insolvency: UltraTech keeps options open for Binani Cement takeover

UltraTech paid Rs 6.52 bn to the lenders after they issued it Letter of Intent

Insolvency: Binani Cement lenders vote for UltraTech's Rs 79.60 bn offer

Aditya Birla group company emerges highest bidder with Rs 79.60 bn proposal

Insolvency resolution: Binani's CoC vote on UltraTech offer on Monday

NCLT has set June 24 as deadline for resolution, failing which Binani Cement will face liquidation

Binani Cement's CoC asks Dalmia Bharat to match offer of UltraTech

Sources suggested that Dalmia Bharat may consider revision of the offer only after the May 22 hearing in NCLAT

Binani sale: SC won't interfere, pushes Dalmia Bharat's plea back to NCLAT

A source close to Dalmia Bharat explained that the Supreme Court ruling on Thursday on its appeal hasn't closed the door for it for further appeal

Dalmia Bharat alleges UltraTech legally ineligible to bid for Binani Cement

Binani Cement had failed to conclude an out-of-court settlement with its lenders

Dalmia Bharat moves SC on NCLT's Binani Cement order, hearing on May 10

Dalmia Bharat's primary argument in the petition rests on the claim that the Kolkata bench of NCLT did not follow the due process of law as mandated under the IBC

Binani Cement lenders to meet on Wednesday to mull UltraTech revised offer

Sources say only UltraTech's proposal will be discussed and if accepted, lenders will ask Dalmia Bharat Cement-led consortium to match it

Dalmia Bharat to stick to its Rs 67 billion offer for Binani Cement

The NCLT has ordered the CoC to consider UltraTech Cement and Dalmia Bharat Cement's offers, while bearing in mind the objective of IBC, which is value maximisation