Dalmia’s `4,000 crore capacity bet

Dalmia Bharat plans to raise up to ₹4,000 crore through multiple fundraising instruments to support aggressive expansion, as the cement maker targets manufacturing capacity of 110–130 MTPA by FY31.

 India’s 4th largest cement producer aims to expand capacity from around 49.5 MTPA currently to 75 MTPA in the medium term through acquisitions, greenfield and brownfield projects.  The company said rising infrastructure spending, private-sector investments and growing housing demand are expected to drive cement demand growth of 6-7% CAGR over the coming years, creating long-term volume opportunities across regions.  To fund expansion, it may raise capital through public or private offerings, including equity shares, qualified institutional placements, convertible bonds and other securities.   

The proceeds will be used for capital expenditure, debt repayment, working capital and investments in subsidiaries. The company is also expanding geographically to strengthen its pan-India presence while increasing market share in existing markets. Recently, it signed an agreement to acquire cement assets of Jaiprakash Associates for ₹2,850 crore, giving it faster access to central India markets. The company’s net profit jumped 65% in FY26.