Companies

CCI nod for acquisition of stake in My Home Industries by group cos, promoter

Our Bureau New Delhi | Updated on December 27, 2019 Published on December 27, 2019

My Home Group, affiliates, promoter Rameswar Rao to buy 50 per cent stake

The Competition Commission of India (CCI) has approved the acquisition of shares in My Home Industries Private Ltd (My Home Industries) by My Home Constructions Private Ltd (MHCPL) and its affiliates.

The proposed combination envisages acquisition of 50 per cent of shareholding of My Home Industries by MHCPL, Jupally Real Estate Developers Private Ltd (JREDPL) and Rameswar Rao Jupally.

MHCPL and JREDPL are part of My Home Group based out of Hyderabad. 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.

Diversified group

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 is present 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.

Published on December 27, 2019
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