Lifestyle Investments (LIPL), wholly-owned foreign subsidiary of Prism Cement, has sold its present holding of 145,707,247 million shares in Norcros Plc, a company listed on the London Stock Exchange for a net consideration of GBP 26.55 million. Post the sale, LIPL does not hold any shares of Norcros. LIPL’s capital gain on this transaction would be approx. GBP 12.8 million.
Prism Cement is one of India’s leading integrated building materials companies; with a wide range from cement, ready-mixed concrete, tiles, bath products to kitchens.