Rain Commodities acquires Birla Cement & Industries

Hyderabad : Rain Commodities Ltd, which manufactures Priya Cement, has acquired Birla Cement and Industries Ltd from Yash Birla Group for an undisclosed sum. "Consequent to the said acquisition, Birla Cement and Industries Ltd has become a wholly-owned subsidiary of the company", the Hyderabad based company informed the Bombay Stock Exchange on Friday.

"Birla Cement and Industries Ltd holds certain Limestone Mining Leases in the State of Andhra Pradesh," it said. When contacted, Mr Srinivasa Rao, Chief Financial Officer, Rain Commodities Ltd told Business Line, that the primary objective of acquisition was to gain control over "a large tract of land in Adilabad district which have limestone deposits." There would not be any addition of production capacity of cement nor plants, he added.