Binani to dilute 40 % stake in cement venture

Binani Industries, on Wednesday, said it would divest up to 40 per cent stake in Binani Cement to financial investors to fund expansion.

The dilution of stake is to improve liquidity position of the cement maker to “consolidate its growth plans”, the company says in a statement.

Binani Cement, which was de-listed from domestic bourses in May, 2011, is the flagship subsidiary of Binani Industries.

It has operations in India, China and Dubai and is eyeing emerging markets in Africa for expansions.

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Printable version | Apr 10, 2021 8:10:19 PM |

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