Renuka Sugars

In the first acquisition of any foreign sugar and ethanol unit by an Indian company, Shree Renuka Sugars Ltd. one of the largest producer in the country has acquired Brazil's Vale Do Ivai Sa Acucar e Alcool (VDI) at an enterprise value of $ 240 million ( Rs 1112 crore) SRSL will pay $82 million (Rs 380) crore now and balance over 8 years. it plans to finance the acquisition by leveraging the $105 million (Rs 506 crore) it raised through a qualified institutional placement (QIP) of shares in JUly. the company operate sugar mills. five owned and three leased, with a cumulative daily crushing capacity of 35000 tonnes.