The restructuring of Dalmia Cement is likely to increase transparency, said its Managing Director Puneet Dalmia to CNBC-TV18. He added that the power and cement verticals will be independent businesses and that the sugar business will be listed soon. Existing shareholders will get one more share in the sugar arm for every share held in Dalmia Cements.
The restructured companies are expected to list in the next six to eight months, Dalmia said. "There are no listing plans yet for the power business."
He confirmed that the company is in talks with private equity players to fund its cement business expansion. "The entire process should be done in eight weeks."
When quizzed on where he viewed cement prices heading, Dalmia said he is cautious about prices for the next two years.