Aditya Birla Management Corporation Pvt Ltd. and Jaiprakash Associates Limited are holding the last lap takes for the acquisition of Jaypee's cement units in Gujarat and a decision is expected any time, according to a source directly involved. If the deal is signed, Aditya Birla will pay around $800 million, the source added. The talks are centered on final valuation of the unit.

“There is an issue over the valuation of the units from the Birlas' side, who think the units are expensive. The Birlas are negotiating hard and have made the final offer,” the source said. The Birlas have offered close to $160 a ton of capacity and Jaypee and its bankers are going through the offer.

On being contacted by Business Standard, Manoj Gaur, Executive Chairman and Chief Executive Officer of Jaiprakash Associates, confirmed the sale, however, declined to provide further details. O P Puranmalka, whole-time director of UltraTech Cement Limited, said no takeover talks were on with Jaypee.