Anjani Portland Cement Limited acquires 82.51% in Bhavya Cements Pvt Ltd

Anjani Portland Cement Limited had earlier announced about the proposed acquisition of controlling stake in the equity shares capital of Bhavya Cements Private Limited ("Investee Company"). The acquisition was to be completed within 15 days.

Pursuant to the Share Purchase Agreement entered with the Shareholders of the Investee Company on the 26th May, 2021, the company has today acquired 115455015 fully paid-up Equity Shares of face value Rs.10/- (Rupees Ten) each in the share capital of the Investee Company, representing 82.51% of the paid-up share capital of the Investee Company, at a price of Rs. 52.59 Per share involving a total Sale Consideration of Rs. 607.18 Crores. With this acquisition, Bhavya Cements Private Limited has now become a subsidiary of Anjani Portland Cement Limited.

Shares of ANJANI PORTLAND CEMENT LTD. was last trading in BSE at Rs.334.8 as compared to the previous close of Rs. 316.3. The total number of shares traded during the day was 76486 in over 3065 trades.

The stock hit an intraday high of Rs. 340 and intraday low of 320. The net turnover during the day was Rs. 25202177.

Source : Equity Bulls

Keywords