Nuvoco Vistas Corporation Limited, India’s fifth-largest cement manufacturer, announced the successful acquisition of Vadraj Cement Limited (VCL) through its wholly-owned subsidiary, Vanya Corporation Private Limited. The acquisition was completed on June 21, 2025, following the approval of the Resolution Plan by the Hon’ble National Company Law Tribunal (NCLT) and in accordance with the terms laid out therein.
As part of the approved Resolution Plan, Vanya Corporation—the implementing entity—will be merged with Vadraj Cement, making VCL a direct wholly-owned subsidiary of Nuvoco Vistas. The transaction marks a key milestone in Nuvoco’s strategic expansion and reinforces its position as a dominant player in the Indian cement industry.
Vadraj Cement, currently undergoing the Corporate Insolvency Resolution Process, was identified by Nuvoco as a high-potential asset. The Committee of Creditors (CoC) approved Nuvoco’s Resolution Plan and subsequently issued a Letter of Intent for the acquisition. The implementation of the transaction will be supported by a phased investment over 15 months, focusing on refurbishing existing assets and enhancing operational performance at VCL’s facilities.
The acquired assets include a 3.5 million metric tonnes per annum (MMTPA) clinker plant in Kutch, Gujarat, and a 6 MMTPA grinding unit in Surat, Gujarat. In addition, VCL holds high-quality limestone reserves, ensuring long-term raw material security, and owns a captive jetty in Kutch to bolster logistical efficiency.
Post-acquisition, Nuvoco’s total cement production capacity will rise to approximately 31 MMTPA—comprising 19 MMTPA in East India, 6 MMTPA in the North, and 6 MMTPA in the West. This geographic diversification strengthens the company’s supply chain and enhances its ability to serve high-growth regions efficiently.
The acquisition is also expected to deliver significant synergies with Nuvoco’s existing operations in Nimbol and Chittorgarh, Rajasthan. The integration will drive logistics optimisation, streamline manufacturing processes, and enhance market competitiveness.
Notably, Nuvoco plans to fund the acquisition and subsequent investments without a significant increase in its consolidated debt levels, underscoring its commitment to maintaining a prudent financial profile.
Production at the refurbished VCL facilities is targeted to commence by the third quarter of FY27, subject to final regulatory clearances. The acquisition positions Nuvoco Vistas for robust long-term growth, enabling it to further consolidate its market leadership in India’s rapidly evolving cement sector.