RHI Magnesita India to acquire 100Percentage stake in Dalmia OCL

26 Nov 2022 , 01:34 AM

RHI Magnesita India announced that the company is desirous of executing a share swap agreement SSA with Dalmia Bharat Refractories DBRL to acquire 82483642 of equity shares each fully paid up having a face value of Rs 10 representing 100Percentage of the equity share capital of Dalmia OCL DOCL Under the terms of the Share Swap Agreement the Company will acquire all outstanding shares in DOCL in exchange for 27000000 new shares vide preferential allotment in the Company Transaction on such terms and conditions as may be mutually agreed between the parties Based on the issuance price of the Company at Rs 6325029 per share the Share consideration has a value of approximately Rs 1708 crore The Company will consolidate DOCLs earnings and approximately Rs 443 crores of net debt held by DOCL