JSW Cement to invest ₹3000 crore in new plant in Rajasthan thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
This investment follows an infusion of Rs 5,000 crore by the promoter into the company for exercising the warrants issuance approved by the board in October 2022.
The fund s infusion will be instrumental for the cement business of the Adani group, which has plans to enhance its capacity to 140 million tonnes per annum by 2028, according to a statement from billionaire Gautam Adani-owned Ambuja Cements.
India-focused M&A activity has reached a three-year low, falling 56.6% to $65.6bn in the first nine months of 2023, according to the India Investment Banking Review. Domestic M&A activity fell 60% to $44.1bn, while inbound M&A dropped 47% to $16.4bn. The financial sector accounted for the largest share of deal activity at 46.7%, totalling $30.6bn, down 56% from last year.