Financial Daily from THE HINDU group of publications
Tuesday, Sep 27, 2005

Port Info

Group Sites

Corporate - Mergers & Acquisitions

India Cements to hike stake in Visaka Cement

Our Bureau

Chennai , Sept. 26

ICL Securities Ltd, a wholly owned subsidiary of India Cements Ltd, has entered into an agreement to purchase 4 lakh equity shares of Visaka Cement Industry Ltd from Trishul Investments Pvt Ltd.

The shares will be bought at Rs 10.25 a share for a total consideration of Rs 41 lakh, according to an India Cements' release to the stock exchanges today. The shares have been pledged with a bank and the deal will get completed once they get released.

The shares represent 0.2 per cent of the equity share capital of Visaka Cement Industry Ltd and on completion of the transaction, India Cements' holding along with that of another subsidiary in Visaka Cement will exceed 50 per cent. Visaka Cement has a 1.12 million tonnes cement plant at Tandur in Ranga Reddy district of Andhra Pradesh.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
GAIL enters octene-based LLDPE market

ONGC to continue giving interest-free loans to OVL
Hyundai, Maruti set to hike prices
Gujarat NRE Coke's Australian mine starts production
Elgi Equipments bags 2 orders
Shanthi Gears to float FCCB to fund expansion plans
Redefining management in the knowledge era
Visaka Ind gets eco clearance for cement sheets project
Enaleni move to buy Cipla Medpro — Drug supply to South Africa, its neighbours will not be hit: Cipla
Vashisti shareholders okay merger with HLL
Matrix to acquire 60 pc in China's Mchem — Inks share purchase agreement
India Cements to hike stake in Visaka Cement
Coal India chief for expediting approval for new projects
AAIFR to hear Dunlop revival scheme on Oct 4
Indo Asian Fusegear in joint venture with Nordex of Italy
IOC chief on World LPGas board

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line