Anjani Portland Cement increases stake to 99.08% in Bhavya Cements

31 Mar 2022 CW Team

Anjani Portland Cement Ltd told the media that the company's shareholding in Bhavya Cements Private Limited, a subsidiary of the company, has been increased from 93.53% to 99.08%.

The company purchased additional 2,28,518 equity shares of Bhavya Cements Private Limited, a subsidiary of the company, representing 0.16% of its paid-up equity shares capital, from its existing shareholders and the completion of the Buyback offer given by Bhavya Cements Private Limited.

The company did not participate in Bhavya Cements Private Limited's Buyback offer because it would be beneficial to the Company to increase its percentage of shareholding in Bhavya Cements Private Limited after the buyback process was completed, according to the company.

Anjani Portland Cement was trading at Rs 237.95 a piece at 2:11 pm on the Bombay stock exchange (BSE), up to Rs 0.7 or 0.3% from its previous close of Rs 237.25 apiece.

Anjani Portland Cement Limited is a cement manufacturing company based in India. Cement and Power are two of the company's segments. The Cement segment is responsible for the production and distribution of cement. The power segment is responsible for the generation of electricity.

Bhavya Cements Private Limited is a private company that was founded on April 16, 2007. It is a private limited company with headquarters in Guntur, Andhra Pradesh. It has a total paid-up capital of Rs 139.92 crore and an authorised share capital of Rs 140.00 crore.

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