Dalmia Bharat Limited formerly known as Dalmia Bharat Enterprise Limited is a leader in specialty cements and the country's largest producer of slag cement. It is one of the largest and most diverse cement companies in India and is the world's greenest cement company with lowest carbon footprint. With a growing capacity currently pegged at 25 million tonnes Dalmia Bharat is also the fourth largest manufacturing capacity in the country. Spread across 8 states and 11 manufacturing units the company is also the category leader in super-speciality cement used for oil wells railway sleepers and airstrips. The company enjoys steady offtake in Southern and North Eastern India through its robust portfolio of brands like Dalmia DSP Dalmia Dalmia Ultra Vajram Dalmia Superroof Konark and Dalmia SRPC.Dalmia Bharat Enterprises Ltd was incorporated on February 10 2006 with the name Sri Kesava Mines and Minerals Ltd. In February 19 2010 the company changed their name from Sri Kesava Mines and Minerals Ltd to DCB Renewable Energy and Industries Ltd. In March 25 2010 they further changed their name to Dalmia Bharat Enterprises Ltd.In May 2010 Dalmia Cement the parent company and KKR had collaborated to invest Rs 750 crore for use in both sequential and merger and acquisition-based growth of the cement making firm.In September 2010 as per scheme of arrangement Dalmia Cement (Bharat) Ltd de-merged their cement business refractory business thermal power business and certain other businesses (collectively the de-merged Undertakings) and transferred to the company. As part of the scheme the company further de-merged the cement business to Avnija Properties Ltd (Avnija) and thermal power business to DCB Power Ventures Ltd (DPVL). Thus the company ceased to be a wholly owned subsidiary of Dalmia Bharat Sugar and Industries Ltd.In September 2010 the company received Rs 500-crore investment from private equity firm KKR in Avnija Properties Ltd manufacturer of Dalmia brand of cements. The company's equity shares were listed on the Bombay Stock Exchange (BSE) National Stock Exchange (NSE) and Madras Stock Exchange (MSE) with effect from 27 January 2011. On 16 January 2012 Dalmia Bharat Enterprises announced that the company's subsidiary company Dalmia Cement (Bharat) Ltd has approved the acquisition of up to 50% of the share capital of Calcom Cement India Ltd for an aggregate investment amount of Rs 238 crore. Such investment would be made by way of various tranches through a combination of new issuances and acquisitions and subject to the various terms and conditions set out in the definitive documentation. Calcom Cement India Ltd is a manufacturer of OPC and PPC cement based out of Assam and is currently expanding its consolidated cement manufacturing capacity to 2.1mt.p.a.On 5 September 2012 Dalmia Bharat Enterprises announced a mandatory open offer to acquire 2.10 crore equity shares of Dalmia Bharat Sugar and Industries Limited constituting 26% of the paid up equity share capital of the target company at a price of Rs 19.50 per share.On 28 September 2012 Dalmia Bharat Enterprises announced that the company's subsidiary company Dalmia Cement (Bharat) Limited has signed definitive agreements for acquisition of the entire share capital of Adhunik Cement Limited a company having its registered office at Village Tangskai in Meghalaya for a total consideration of Rs 560 crore. This acquisition and the payment of the consideration for the acquisition shall be made in multiple tranches subject to the adjustments and various other terms and conditions set out in the definitive agreements. The name of the company was changed from Dalmia Bharat Enterprises to Dalmia Bharat with effect from 1 November 2012. On 30 November 2012 Dalmia Bharat Enterprises informed stock exchanges that its subsidiary company Dalmia Cement (Bharat) Limited has approved acquisition of additional 26% fully diluted stake in Calcom Cement India Limited at a consideration of Rs 77.16 crore upon signing of a Share Purchase Agreement on 30 November 2012. This consideration shall be paid in multiple tranches subject to the adjustments and other terms and conditions set out in the definitive agreements.The Board of Directors of Dalmia Bharat at its meeting held on 12 February 2014 decided to terminate the job work arrangement of the refractory business with effect from 31 March 2014. Pursuant to this the refractory business of the company would be discontinued from the close of the business hours of 31 March 2014.On 25 March 2014 Dalmia Bharat announced that the Board of Directors of its subsidiary Dalmia Cement (Bharat) Limited (DCBL) has approved the proposed acquisition of 74% stake in Bokaro Jaypee Cement Limited (BoJCL) a joint venture between Jaiprakash Associates Limited (JAL) with 74% stake and Steel Authority of India Limited (SAIL) with 26% stake. The total enterprise value is Rs 1150 crore. BoJCL is a 2.1 million tonnes per annum (MTPA) cement unit located at Bokaro Jharkhand. It has a 30-year long term clinker supply arrangement with JAL and 30-year slag supply arrangement with SAIL. With this acquisition DCBL's current installed cement capacity (including subsidiaries and associates) will reach 20 MTPA. The proposed acquisition would be funded through a mix of debt and internal accruals.On 28 November 2014 Dalmia Bharat informed the stock exchanges that the company's subsidiary company Dalmia Cement (Bharat) Limited (DCBL) through its ultimate subsidiary has acquired the balance 26% stake in Bokaro Jaypee Cement Limited (BoJCL) from Steel Authority of India Limited. Upon this acquisition BoJCL will become wholly owned subsidiary of the ultimate subsidiary of Dalmia Cement (Bharat) Limited. The total consideration for 100% acquisition of BoJCL is same as that of the earlier 74% purchased from Jaiprakash Associates Limited (i.e. aggregate Enterprise Value of Rs 1150 crore for 100% stake).On 25 February 2015 Dalmia Bharat announced that its subsidiary Dalmia Cement (Bharat) Limited (DCBL) has increased its stake in OCL India Limited from 48% to 74.6% through inter-se promoter transfer. With this consolidation the Group's regional capacity mix stands at 48% in South and 52% in East and North East. OCL India Limited is a leading player in the Eastern region. On 30 March 2015 Dalmia Bharat informed the stock exchanges that Dalmia Cement (Bharat) Limited a subsidiary of the company has commenced its new cement plant of 2.5 MnT at Belgaum Karnataka on 23 March 2015 and has now started trial production. With this commissioning of the 2.5 MnT Belgaum plant the total installed cement capacity of Dalmia Bharat Group would be 24 MnT.On 31 March 2015 Dalmia Bharat informed the stock exchanges that Dalmia Cement (Bharat) Ltd. a subsidiary of the company has commenced trial run of a new clinker line of its subsidiary Calcom Cement India Limited at Umrangshu Assam. The total installed grinding capacity for the plant is 2.1 MnT located at Lanka Assam. Dalmia also has another cement manufacturing facility in North East located at Meghalaya with a capacity of 1.5 MnT.The Board of Directors of Dalmia Bharat at its meeting held on15 January 2015 approved the acquisition of the entire remaining stake of 15% in Dalmia Cement (Bharat) Limited (DCBL) from KKR Mauritius Cement Investments Ltd. (KKR). The consideration for acquisition of 3.79 crore equity shares of DCBL from KKR will comprise of issue of 75 lakh fully paid up equity shares of face value of Rs 2 each of the company to KKR on a preferential basis and cash consideration of Rs 600 crore payable by the company to KKR. The preferential issue to KKR will be priced at Rs 825 per share.The Securities Preferential Allotment Committee (Committee) of the Board of Directors of Dalmia Bharat at its meeting held on 9 March 2016 allotted 75 lakh equity shares of the company to KKR Mauritius Cement Investments Ltd. for consideration other than cash (share swap) in compliance with the Companies Act 2013 and the Rules framed thereunder. The Board of Directors of Dalmia Bharat Limited (DBL) at its meeting held on 28 March 2016 approved the amalgamation of OCL India Limited and Dalmia Cement East Limited `Bokaro' with Odisha Cement Limited (shall be renamed as OCL India Limited) amalgamation of Adhunik Cement with Dalmia Cement (Bharat) Limited (DCBL) and transfer of power assets in Dalmia Cement Bharat Power Ventures Limited to DCBL. Post consolidation OCL would emerge as one of the largest Portland Slag Cement producers in India. The Board of Directors of Dalmia Bharat Limited (DBL) OCL India Limited (OCL) Dalmia Cement (Bharat) Limited (DCBL) and Odisha Cement Limited (ODCL) at their respective meetings held on 5 November 2016 approved a Scheme of Arrangement and Amalgamation (the Scheme) for the merger of Dalmia Bharat Limited (DBL) with OCL India Limited (OCL) and merged entity to be renamed as Dalmia Bharat Limited. Simultaneously the business undertakings of OCL will be transferred into DCBL consolidating DCBL's cement manufacturing capacity within same legal entity. The shareholders of DBL will receive 2 shares of the merged entity for every 1 share held on record date. DCBL will be a consolidated cement operating entity of the group. The Scheme aims at having a simplified group structure with one listed entity.The Board of Directors of Dalmia Bharat at its meeting held on 5 August 2017 approved the Share Purchase Agreement for the sale of the company's entire shareholding in its wholly owned subsidiary Kanika Investment Limited to Shree Nirman Limited for a consideration of Rs 8.20 crore. Kanika Investment Limited is a registered Non-banking Financial Company.On 21 December 2017 Dalmia Bharat announced that the Committee of Creditors (CoC) of Murli Industries Limited (MIL) constituted in accordance with the provisions of the Insolvency and Bankruptcy Code 2016 has approved the proposed Resolution Plan submitted by Dalmia Cement (Bharat) Limited (DCBL) for recommendation to the National Company Law Tribunal Mumbai for its approval in relation to revival of MIL. DCBL is a subsidiary of Dalmia Bharat. Following the receipt of the requisite approvals the Resolution Plan provides for a payment of Rs 402 crore which is 1.7 times higher than the determined liquidation value. MIL has an integrated cement manufacturing plant with an installed capacity of 3 MnT in Chandrapur district Maharashtra along with a captive thermal power plant of 50 MW. In addition MIL also has paper and solvent extraction units in Maharashtra. MIL was referred to the corporate insolvency resolution process by its lenders in April 2017. On 6 February 2018 Dalmia Bharat announced that National Company Law Tribunal (NCLT) Kolkata has approved the Resolution Plan (RP) for revival of Kalyanpur Cements Limited (KCL) submitted by Dalmia Cement (Bharat) Limited (DCBL). DCBL is a subsidiary of Dalmia Bharat. Earlier on 30 January 2018 Dalmia Bharat announced that the Committee of Creditors (CoC) of Kalyanpur Cements Limited (KCL) has approved the Resolution Plan (RP) for revival of KCL submitted by DCBL. Following receipt of requisite approvals the RP provides for a payment of Rs 353 crore. KCL the only integrated cement manufacturing plant in Bihar (District Rohtas) has an installed cement capacity 1.1 MnT. The plant was operational till August 2017 and temporarily discontinued operations thereafter due to working capital constraints. KCL was referred to the corporate insolvency resolution process by one of its operational creditor in May 2017 under the provisions of the Code. The acquisition of KCL would help Dalmia Bharat to further consolidate its cement footprint in Eastern region and provide enhanced synergy benefits.On 15 March 2018 Dalmia Bharat announced that the Committee of Creditors (CoC) of Binani Cement Limited (BCL) constituted in accordance with the provisions of the Insolvency and Bankruptcy Code 2016 (Code) has approved the Resolution Plan (RP) for revival of BCL submitted by Rajputana Properties Private Limited (Rajputana) a Dalmia Bharat Group entity. The Competition Commission of India has already granted its approval to the proposed acquisition of the stressed asset in the fastest and record time. The Resolution Plan envisages disciplined investment criteria by Dalmia Bharat proposed to be achieved through Rajputana becoming a joint venture (50:50) with India Resurgence Fund (backed by Piramal & Bain). This is the first ever transaction where a foreign PE investor invested in the undertaking referred under the Code. BCL along with its subsidiaries is having a global cement capacity of 11.25 million tonnes (MnT) with capacity in Rajasthan India at 6.25 MnT and overseas operations include a grinding unit in Dubai of 2 MnT & clinker facility of 3 MnT along with a 0.5 MnT of grinding unit in China.On 20 March 2018 Dalmia Bharat announced that the Resolution Professional of Binani Cement Limited (BCL) has issued a letter of intent (LOI) to Rajputana Properties Private Limited (Rajputana) and the same was accepted by Rajputana and delivered to the Resolution Professional. Further Rajputana has provided a performance bank guarantee (PBG) equal to 10% of upfront payment to be made to the financial creditors as per the plan as a term of acceptance in accordance with the terms of the LOI. The Resolution Professional has since filed the Resolution Plan with the National Company Law Tribunal for its approval thereon.On 18 May 2018 Dalmia Bharat announced that the Board of Directors of its step down subsidiary viz.OCL India Limited at its meeting held on 18 May 2018 has decided to set up a new cement plant in Odisha along with waste heat recovery system and split cement manufacturing units in the eastern part of India with cement manufacturing capacity of 8 Mn TPA with a total estimated investment of Rs 3720 crore. The project is estimated to be completed within 24 months post all statutory and regulatory clearances and it will be financed through judicious mix of debt and equity.