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 — Scheme 1, India Resurgence Fund 2 — Scheme 2, and India Resurgence Fund 2 — Scheme 4 to sell up to 7,42,71,009 equity shares, representing 50.10% of the Company. The SPA is subject to receipt of applicable statutory and regulatory approvals. As a result of the SPA, the Purchasers are required to make a mandatory tender offer to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.