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Dalmia Cement to sell stake in firm Sarvapriya Healthcare

2023-03-28

A regulatory filing on March 26 stated that Dalmia Cement, a wholly-owned subsidiary of the Dalmia Bharat group, had signed a contract to sell Sarvapriya Healthcare Solutions its 42.36 percent stake in a subsidiary company for the sum of 8000 million.

According to a filing with the stock exchange, Dalmia Cement "entered into a binding agreement to sell its entire investment of 1,87,23,743 equity shares of Rs 10 each (42.36 percent of the share capital) of Dalmia Bharat Refractories Limited, an associate company, to Sarvapriya Healthcare Solutions Private Limited, a promoter group company, for a consideration of 8000 million."

According to the company's "plan to quit non-core business," the choice was made in accordance with Dalmia Bharat's board of directors' consent on March 25.

The company stated that the transaction will close on or before April 25, 2023. Dalmia Cement will receive 20 percent of the $8 billion total payment on the consummation date.