Bheema Cements plans to raise Rs. 350 crore to fund expansion.

Hyderabad-based Bheema Cements Limited is looking at options, including roping in a strategic partner, to meet the funding requirement of its expansion as well as financial restructuring plans, according to unconfirmed reports.

The company owns a cement plant with a one million-tonne annual production capacity at Ramapuram in the neighbouring Nalgonda district. It had received clearances for the expansion of the installed capacity by an additional 1.5 million tonnes and also to set up a 45-MW power plant proposed for captive usage.

Sources in the know told Business Standard the promoters of Bheema Cements would be willing to divest a sizeable equity if they found a right partner and right valuation.

Other options like preferential issue of equity shares to the investors or qualified institutional placement (QIP) were also under consideration, it is learnt. When contacted, the company management refused to offer any comments in this regard.


BS