With reference to letters dated October 28, 2018 and November 2, 2018, The India Cements has informed that the company has entered into a Share Purchase Agreement for acquiring the entire shareholding of Springway Mining, in a phased manner, with an objective of setting-up of a Cement Plant in the State of Madhya Pradesh. Further, the company has acquired the controlling stake of 51% in the paid-up equity share capital of Springway Mining on December 3, 2018; thereby Springway Mining has become subsidiary of the company.
The above information is a part of company’s filings submitted to BSE.
