True North Fund VI LLP to Sell 50.10% Stake in Shree Digvijay Cement to India Resurgence Fund for $

True North Fund VI LLP, the promoter of Shree Digvijay Cement Company Ltd., has entered into a share purchase agreement (SPA) with India Resurgence Fund entities to sell up to 7,42,71,009 equity shares, representing 50.10% of the company. The sale is subject to statutory and regulatory approvals. The Purchasers are required to make a mandatory tender offer to the public shareholders of the Company in accordance with SEBI regulations. The Company has also approved a brand usage, supply and distributorship agreement with Hi-Bond Cement (India) Private Limited, and an options agreement to acquire 100% equity shares of HIBOND from its shareholders.