+
India Cements to Sell Stake in Key Subsidiaries
Cement

India Cements to Sell Stake in Key Subsidiaries

The board of India Cements has approved the divestment of its entire stake in several subsidiaries as part of its strategic restructuring.

In an exchange filing, the company announced that it will sell its entire equity investment in Coromandel Electric Company Ltd (CECL) to Adam & Coal Resources Private Ltd, a Chennai-based firm, for Rs 360 million. Following the completion of the sale, CECL will no longer be a subsidiary of India Cements. Additionally, Coromandel Sugars, in which CECL holds a 49.99% stake, will also cease to be an associate of the company.

Other Divestments: Coromandel Travels: To be sold to Venbro Investments and Financial Services Pvt Ltd for Rs 3.98 lakh. Raasi Cement: Entire stake to be sold to Venbro for Rs10,000. Unique Receivables Management Pvt Ltd: To be divested to Venbro for Rs 2,500. Additionally, ICL Financial Services and ICL Securities, both wholly owned subsidiaries of India Cements, have also approved the sale of their entire equity investment in Raasi Cement, leading to its dissociation from the company.

Shares of India Cements closed the trading session at Rs 272.95, up 2.27%.

The board of India Cements has approved the divestment of its entire stake in several subsidiaries as part of its strategic restructuring. In an exchange filing, the company announced that it will sell its entire equity investment in Coromandel Electric Company Ltd (CECL) to Adam & Coal Resources Private Ltd, a Chennai-based firm, for Rs 360 million. Following the completion of the sale, CECL will no longer be a subsidiary of India Cements. Additionally, Coromandel Sugars, in which CECL holds a 49.99% stake, will also cease to be an associate of the company. Other Divestments: Coromandel Travels: To be sold to Venbro Investments and Financial Services Pvt Ltd for Rs 3.98 lakh. Raasi Cement: Entire stake to be sold to Venbro for Rs10,000. Unique Receivables Management Pvt Ltd: To be divested to Venbro for Rs 2,500. Additionally, ICL Financial Services and ICL Securities, both wholly owned subsidiaries of India Cements, have also approved the sale of their entire equity investment in Raasi Cement, leading to its dissociation from the company. Shares of India Cements closed the trading session at Rs 272.95, up 2.27%.

Related Stories

Gold Stories

Next Story
Resources

Isprava Appoints Sanjay Sethi as Strategic Advisor

Isprava Group has appointed Dr Sanjay Sethi as Strategic Advisor to the business, with a focus on Lohono Stays and Isprava Hospitality.Sethi brings more than 37 years of experience across hospitality operations, development, ownership, strategic growth and capital markets. He will work closely with the Group on strategy, growth and the development of its hospitality business.The appointment comes as Isprava Group expands its integrated ecosystem spanning luxury homes, hospitality, private membership and end-to-end homeowner services.Nibhrant Shah, Managing Director & Co-CEO, Isprava Group, sai..

Next Story
Infrastructure Energy

SunBridge BioEnergy Starts Ethanol Production in Seoni

SunBridge BioEnergy, the bioenergy arm of SunBridge Group, has commenced commercial production at its grain-based fuel-grade ethanol manufacturing facility in Seoni, Madhya Pradesh. The Seoni plant has a production capacity of 300 kilolitres per day and a storage capacity of 11,000 kilolitres. Spread across approximately 117,560 sq m, the facility marks SunBridge BioEnergy’s entry into commercial ethanol production. The company is also expanding its ethanol portfolio with a 400 KLD facility in Raipur, Chhattisgarh, which is expected to become operational soon. Once commissioned, SunBridge ..

Next Story
Infrastructure Urban

Petros Stone Unveils Bastar Art Furniture Collection

Petros Stone LLP has unveiled a new collection of collectible furniture combining Bastar art with Indian natural stone in collaboration with Inch Studio at India Design ID Mumbai 2026. The collection, being showcased from October 9-11 at Jio World Garden, BKC, Mumbai, brings together indigenous craftsmanship and natural stone to create limited-edition pieces for contemporary interiors. The designs combine the sculptural and handcrafted character of Bastar art with natural stone selected, cut, shaped and finished by Petros Stone’s processing teams. Developed with Inch Studio, the collection..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code