Corporate News 20-Apr-24
Board of India Cements approves sale of its grinding unit to UltraTech Cement
At meeting held on 20 April 2024
The Board of India Cements at its meeting held on 20 April 2024 has approved the sale of its Grinding Unit, with an installed capacity of 1.1 MTPA, at Parli Vaijnath, Beed District, Maharashtra (PGU), to UltraTech Cement (CIN: L26940MH2000PLC128420) (“Buyer”) for a total consideration of Rs.315 crore (exclusive of taxes and levies). The Company has entered into an Asset Purchase Agreement with the Buyer in this regard today.
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