Bheema Cements is planning to raise funds worth Rs 350 crore for capacity expansion as well as for financial restructuring plans.

The company is planning to raise funds for capacity expansion of its cement plant, located at Ramapuram, in the neighbouring Nalgonda district of Telangana. The cement plant has a capacity of one million tpa.

The company has already received the requisite clearances to expand the capacity of the cement plant by an additional 1.5 million tonne and also to set up a 45 MW power plant proposed for captive usage.

The company is planning to raise funds worth Rs 350 crore towards equity funding and also to restructure its financial liabilities such as bank loans.

The promoters of Bheema Cements are willing to divest a sizeable equity, if they find the right partner and right valuation. Other options like preferential issue of equity shares to the investors or qualified institutional placement (QIP) are also under consideration of the company.