Chettinad Cement Corporation’s promoters have increased their stake in the firm by 6.04% to take it to 94.48%. Prior to the fresh acquisition of shares done through a delisting offer the Chennai-based company’s promoters had 88.44% stake. After the transactions on March 27, promoters now have 94.48% or 36,089,279 shares in the company.
Chettinad Holdings acquired 2,306,702 shares of Chettinad Cement Corporation for Rs 166.08 crore at Rs 720 per share. Chettinad Holdings had no stake in the company before the transaction.
Chettinad Cement Corporation is engaged in production of cement, fused silca, silica and purity quartz grits.
