M&A

M&A

India cements sells Springway Mining stake to JSW cement for Rs.477-Cr

BSE Disclosure  

India Cements is to sell its entire stake held in Springway Mining Pvt Ltd (SMPL) to JSW Cement Ltd for INR 476.87 crore. SMPL owns limestone bearing land at Pawai Tehsil, Panna District in Madhya Pradesh and is in the process of setting up of a cement plant at Gaisabad Tehsil, Damoh District. SMPL had a net worth of INR 14.22 crore. There was no turnover reported by the target company for FY22.