JK Cement to sign an agreement with Toshali

07 Jun 2023 CW Team

In a BSE filing on Monday, J K Cement Ltd announced that it has received preliminary clearance to enter a share purchase agreement with Toshali Cements.

The company will take over management of Toshali and possess all of the firm's fully paid-up capital. The company's board of directors has given the Committee of Directors the authority to take the appropriate action once the necessary preconditions are met. Upon making such an investment, Toshali will merge with the business to form a subsidiary.

The acquisition cost is 1570 million in total. According to the corporation, the acquisition will enable it to increase its presence in the Eastern Region.

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