Dalmia Bharat Enterprises said it has received INR 500 crore investment from private equity firm KKR in Avnija manufacturer of Dalmia brand of cements.

In last May, Dalmia Cement and KKR had inked an agreement to invest INR 750 crore for use in both sequential and merger & acquisition based growth of the cement making firm.

Mr Puneet Dalmia MD of Dalmia Cement said that "The additional capital enables us to consolidate our existing market position, deleverage our balance sheet and pursue attractive organic and inorganic growth options, given the current down cycle.”

Dalmia Bharat Enterprise is a leading cement manufacturer with plants in Tamil Nadu and Andhra Pradesh with a capacity of 9 million tonnes per annum.

(Sourced from Economic Times)