SreeJayajothi Cements of India has been acquired by
The Indian cement company is a subsidiary of Shriram Group. SreeJayajothi Cements would use money generated from the deal to retire close to INR 9 billion debt and the remaining would be shared by the Jayavilas Group and Shriram Group.
The acquisition of SreeJayajothi Cements allows Shriram Group and Jayavilas Group to completely exit the former.
Jayavilas Group is a minority shareholder in SreeJayajothi Cements.