Ramco Industries Acquires Shares of Ramco Cements Worth Rs.41.95 Crores

Ramco Industries Ltd. has acquired 4,66,600 shares of The Ramco Cements Limited for a consideration of Rs.41.95 Crores. The shares were purchased through the Stock Exchanges. The acquisition is part of the company's proposal to invest in The Ramco Cements Limited, for a value up to Rs.160 Crores. The Ramco Cements Limited is one of the Ramco Group of Companies engaged in manufacturing of Cement. The company's existing investment in TRCL has appreciated to Rs.4,376.25 Crores. The Promoters and Promoter Group hold 42.29% of the paid-up capital of TRCL and post completion of the proposed acquisition by the Company there will not be any change in the Management of TRCL.