Shares of Birla Corporation jumped over 19 per cent on Monday after the company announced that it has agreed to acquire\u00a0Lafarge India's cement business for Rs\u00a05,000 crore. Birla Corporation in a BSE filing said "it has agreed to a transaction with Lafarge India Private Ltd, whereby Birla Corp, either directly or through its wholly-owned subsidiary, shall acquire both the Jojobera and Sonadih cement businesses (Acquisition business) from Lafarge India for an Enterprise Value of Rs 5,000 crore". The share price of the company closed 19.27 per cent higher at Rs 540.25. A total of 89,000 shares exchanged hands on the BSE against a two-week average of mere 7,167 shares. The transaction would be funded through existing cash reserves and incremental debt, and is subject to approval of the Competition Commission of India and other relevant regulatory approvals. Under this transaction, Birla Corporation will acquire a integrated cement unit at Sonadih (Chattisgarh), a cement grinding unit at Jojobera (Jharkhand), along with Concreto and PSC brands and an excellent management team. In a BSE filing, the company said, \u201cThe Acquisition Business has a cement capacity of around 5.15 million tonnes per annum, with mineral rights over adequate reserves of limestone.\u201d The Acquisition Business has a demonstrated track record of operational and commercial excellence\u00a0with profitability amongst the highest in the industry aided by raw material linkages, strong distribution network and excellent brand loyalty in the attractive Eastern India cement market.\u201d \u201cUpon completion of this transaction, Birla Corporation will consolidate its position in the Eastern India cement market where demand supply scenario and outlook continue to remain buoyant,\u201d the company said in a filing.