Bhatia Coke & Energy Limited
- Member a’XYKno Capital Services
- Sector Industrials
- Date completed 2.06.2021
- Client BCEL
- Country India
- Target Earth Element Development Company Pvt Ltd
- Country India
Earth Element Development Company Private Limited based in India and Nithia Capital based in London acquires a majority stake in BCEL head quartered in Tamil Nadu, India.
BCEL, a closely held Public Limited Company incorporated on June 13, 2008 in the name of Bhatia Energy & Steels Limited. The name was changed to BCEL on September 16, 2009.
The Company is engaged in the business of Coke Manufacturing and Power Production using Waste Heat Recovery Mechanism. BCEL has acquired Coke Manufacturing Plant having capacity of 1,68,000 MTPA and 10 MW Power Plant based on Waste Heat recovered from Coke Oven Plant ,and its operation under Business Transfer Agreement from Asian Natural Resources (India) Limited (ANRIL).
Subsequently in 2013, BCEL completed brown-field capacity expansion program at its Unit in Gummidipoondi, Tamil Nadu, whereby Coke Manufacturing capacity has been doubled to 3,38,000 MTPA and Power Generation capacity has been increased to about 22.5 MW.
The deal was very challenging in terms of size of the Company, Multiple Stakeholders & Lenders with an Exposure of US $17.38Million (INR 1299 Crores).
a’XYKno being One-Stop-Shop, deployed Investment Bankers, Sector focused Experts, both in-house and external Legal Experts, who had put together very robust framework to successfully conclude the deal within the timeline, that too, under this challenging time of Outbreak of Pandemic – COVID 19 and obtained approval of the Resolution Plan by the National Company Law Tribunal.
Find out how the Globalscope family can help you realise your business dreams.