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  3. Dalmia Bharat Refractories – Divests 11.1% Stake in RHI Magnesita for ₹…

Dalmia Bharat Refractories – Divests 11.1% Stake in RHI Magnesita for ₹826 Cr

23 Sept 2026

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Key Takeaways

  • The stake sale materially reduces Dalmia Bharat Refractories’ exposure to RHI Magnesita India while unlocking ₹826 Cr of value. The key monitorable is how Dalmia deploys the proceeds and whether the reduced strategic holding changes its capital-allocation priorities going forward.

  • The stake sale materially reduces Dalmia Bharat Refractories’ exposure to RHI Magnesita India while unlocking ₹826 Cr of value. The key monitorable is how Dalmia deploys the proceeds and whether the reduced strategic holding changes its capital-allocation priorities going forward.

dalmia bharat refractories unlisted shares

Dalmia Bharat Refractories

-1.38%

Expert Analysis

Expert Analysis:

  • Dalmia Bharat Refractories sold 2.29 Cr shares, representing an 11.1% stake in RHI Magnesita India, through a block deal at ₹360 per share, generating ₹825.88 Cr.

  • The stake sale represents a substantial portion of Dalmia Bharat Refractories’ 12.54% holding as of June 2026, leaving it with a significantly smaller stake in RHI Magnesita India.

  • The entire block was absorbed by institutional investors: SBI Mutual Fund bought 8.07%, followed by Bandhan MF at ~1.34%, Nippon India MF at ~1.2% and Clarus Capital at ~0.5%.

  • The transaction provides ₹826 Cr of liquidity to Dalmia Bharat Refractories, while the institutional participation indicates strong demand for RHI Magnesita shares at the negotiated ₹360 price. RHI Magnesita's stock subsequently closed 3.04% higher at ₹379.20 on September 22.

Publisher:Money Control