Business Standard

Billionaires bet on Indian cement sector for big ticket investments

Premji Invest, Damani pick up minority stakes in smaller cement companies

India cement units are cooperating closely with CCI, says Holcim

Dev Chatterjee Mumbai
The Indian cement industry is not only attracting billions of dollars of investment from the new entrants like the Adani group, but several financial investors such as Premji Invest and Radhakishan Damani, promoter of D-Mart chain of retail stores, are also picking up minority stakes in regional cement companies.

Premji Invest, an investment vehicle of infotech major Wipro’s promoter Azim Premji, acquired a 10 per cent stake in Hyderabad-based Sagar Cement for Rs 350 crore in March. In December last year, Damani increased his stake to 23 per cent in India Cements.

Aditya Birla and JSW groups, which lost the race to

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 31 2022 | 6:41 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to