NCL Industries Ltd to acquire Vishwambr Cements Ltd

NCL Industries Ltd has executed a Share Purchase Agreement with Promoter group of Vishwamber Cements Limited and Vishwamber Cements Limited (VCL) for acquisition of 100% shareholding consisting of 77,67,430 equity shares of Rs. 10/- each in Vishwamber Cements Limited (VCL) for a total consideration of Rs. 16,23,91,022 (Rupees Sixteen crores Twenty Three Lakhs Ninety One Thousand and Twenty Two only).

Upon acquisition of the above shares, Vishwamber Cements Limited becomes a wholly owned subsidiary of NCL Industries Ltd (NCLIL).

NCL Industries Ltd intends to merge subsequently VCL with NCLIL and convert the limestone mines covering an area of 322.06 acres under its lease into captive mines of NCL Industries Ltd for captive consumption of the limestone raised from the said mines in its operations.

Shares of NCL Industries Limited was last trading in BSE at Rs. 187.30 as compared to the previous close of Rs. 187.30. The total number of shares traded during the day was 3668 in over 249 trades.

The stock hit an intraday high of Rs. 189.50 and intraday low of 186.15. The net turnover during the day was Rs. 689121.00.

Source : Equity Bulls

Keywords

NCLIndustries INE732C01016 Acquisition VishwamberCements