Nuvoco Vistas emerges as Successful Resolution Applicant in Vadraj Cement's Insolvency Process, set to increase capacity by over 20%

Nuvoco Vistas Corp. Ltd. has emerged as the Successful Resolution Applicant (SRA) in the Corporate Insolvency Resolution Process of Vadraj Cement Limited (VCL). The Resolution Plan submitted by Nuvoco has been approved by the Committee of Creditors (‘CoC’), and a Letter of Intent (LOI) has been issued. The transaction will be implemented by Vanya Corporation Private Limited, a wholly owned subsidiary of Nuvoco Vistas Corp. Ltd. The transaction will increase Nuvoco’s installed cement capacity by over 20%, reaching 31 MMTPA, ensuring its position as the fifth-largest cement group in India. The consolidated capacity will enhance Nuvoco’s geographical reach, with nearly 40% of total capacity in the North and West regions. The overall investment, including refurbishment of assets, will be more cost-effective than comparable greenfield or brownfield expansions. The transaction aligns with Nuvoco’s stated objective to ramp up capacity by the end of Fiscal’25.