Business & Economy

CCI approves acquisition of shares in My Home Industries by My Home Constructions and affiliates

NetIndian News Network

New Delhi, December 29, 2019

The Competition Commission of India (CCI) has approved the acquisition of shares in My Home Industries Private Limited by My Home Constructions Private Limited and its affiliates.
The proposed combination envisages acquisition of 50% of the shareholding of My Home Industries Private Limited (My Home Industries) by My Home Constructions Private Limited (MHCPL), Jupally Real Estate Developers Private Limited (JREDPL) and Dr Rameswar Rao Jupally.
MHCPL and JREDPL are part of My Home Group based out of Hyderabad, Telangana.  Dr Rameswar Rao Jupally is the promoter of My Home Group, which has interests in construction and real estate development, manufacturing and supply of grey cement, power consultancy, power generation, power trading, transportation and logistics, media and broadcasting, pharmaceutical and education.
My Home Industries is a 50:50 joint venture between CRH India Investments B.V. and the Acquirers. It is engaged in the manufacturing and supply of grey cement under the brand name “Maha Cement” in India.
It has a presence in Andhra Pradesh, Tamil Nadu, Puducherry, Telangana, Kerala, Karnataka, Odisha, West Bengal, Bihar, Maharashtra, Jharkhand and Chhattisgarh. It is also engaged in power generation activities from waste heat and solar power sources for the purposes of captive consumption.
NNN

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story?
and help us to serve you better.
NetIndian
www.netindian.in