Anil Ambani’s Reliance Cement may go up for Rs 4,000 crore

Finally three names have been shortlisted to acquire cement business of Anil Ambani’s Reliance Infrastructure.

Blackstone, Birla Corp and Baring Private Equity Asia will compete among themselves now and as per reports Blackstone has made the most aggressive bid.

Reliance Cement, which started operations in 2007, is likely to go for an enterprise value of Rs 4,000-4,200 crore.

Reliance Cement has a total installed capacity of 5.8 million tonnes per annum (mtpa). The company has leases to extract limestone in Madhya Pradesh, Karnataka, Uttarakhand, Chhattisgarh, Himachal Pradesh and Rajasthan.

Reliance Infrastructure had mandated Morgan Stanley and SBI Caps to manage the sale process.