Dalmia Bharat Sugar & Industries Ltd (DBSIL) has acquired a sugar manufacturing plant situated at Sangli, Maharashtra from Maharashtra State Cooperative Bank Ltd, for Rs 24.30 crore ($4 million), as per a stock market disclosure.
The plant which has a cane crushing capacity of 1,750 tonnes crushed per day (TCD), has not been operational for the last seven years.
Currently, Dalmia Bharat has a total cane crushing capacity of 27,300 TCD at its existing plants in Uttar Pradesh and Kolhapur, Maharashtra. This would move to 29,050 TCD when the acquired plan starts again.
DBSIL scrip closed at Rs 18.70 per share, down 1.32 per cent on BSE in a strong Mumbai market on Wednesday.
In 2011, the diversified firm went through a restructuring where Dalmia Bharat Enterprises Ltd (which has under its fold the cement business) was demerged from Dalmia Bharat Sugar & Industries, which became a pure play sugar firm.
(Edited by Joby Puthuparampil Johnson)