India Cements Capital’s promoter ‘Trishul Investments’ is planning to sell 23.40 lakh equity shares of Rs 10 each of India Cements Capital (ICCL) at a price of Rs 2 per share to the employees of the ICCL and India Cements group companies to comply with the Securities and Exchange Board of India (SEBI) norms on minimum public share holding requirements.
The transfer of shares to the proposed allottees is solely for the purpose of achieving minimum level of public shareholding as required under Securities Contracts Regulations (Rules), 1957 and it shall not be treated as a precedent and the parties to the transaction shall ensure compliance with the applicable provision of Securities Contracts (Regulation) Act, 1956 and any other applicable law.
