Sale21 Jun 2025, 03:21 pm
India Cements Ltd. to Sell Entire Equity Investment in Subsidiary Company ICML
AI Summary
India Cements Ltd. has announced the sale of its entire equity investment held in Industrial Chemicals and Monomers Limited (ICML), a subsidiary of the Company. Upon completion of the sale, ICML will cease to be a subsidiary. The sale is expected to be completed within six months from the date of the sale/disposal agreement, with the proposed sale consideration being Rs.97.68 crores. The proposed buyer, Mirai Sensing Private Limited, is not a part of the promoter/promoter group/group companies.
Key Highlights
- India Cements Ltd. to sell entire equity investment in subsidiary company ICML
- Expected completion of sale within six months from the date of sale/disposal agreement
- Proposed sale consideration is Rs.97.68 crores
- Mirai Sensing Private Limited is the proposed buyer
- Proposed buyer does not belong to the promoter/promoter group/group companies