The India Cements Limited has informed the Exchange about Sale or disposal
INDIACEM · price
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India Cements' wholly-owned Indonesian subsidiary PT Adcoal Energindo has signed a Share Sale and Purchase Agreement to sell its entire stake in PT Mitra Setia Tanah Bumbu, an associate company in Indonesia. The deal is valued at Indonesian Rupiah 2,695,000,000 (roughly ₹16-17 crore) with two Indonesian buyers — Mr. Finsa Noorcahyo F and Mr. Hari Sutikno — who are unrelated to the promoter group. The associate contributed ₹93.23 crore in turnover and ₹80.74 crore to India Cements' net worth (1.46%) as of December 2024. The transaction is expected to complete within 6 months and is not a related party transaction.
This is a small, non-core divestment of a foreign associate with negligible contribution to the company's overall net worth. Shareholders are unlikely to see any meaningful impact on the stock; the move reflects ongoing portfolio cleanup following the UltraTech acquisition.