Birla Corporation has completed the acquisition of Anil Ambani’s cement business for an enterprise valuation of about Rs 4,800 crore.

Reliance Infrastructure’s (Rinfra) cement arm Reliance Cement Company Private Limited (RCCPL) is a wholly owned subsidiary of Birla Corporation from now.

The acquisition has been funded through existing cash reserves and incremental debt.

Read EquityPandit’s Technical Analysis of Indian Stock Market