India Cements - Divestment Of Limestone Bearing Land In Central India: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The India Cements Ltd. has agreed to divest its entire shareholding in Springway Mining Pvt Ltd. for a consideration of Rs 4.77 billion to JSW Cement Ltd. (as per press release). However, as per our discussion with the management, India Cements will also receive a total of Rs 1.27 billion towards the advance paid (Rs 1.18 billion) to Springway Mining and interest on such advances (Rs 90 million), taking the total consideration to Rs 6.04 billion. India Cements has received Rs 3.74 billion upfront and the remaining amount will be received on or before December 31, 2022.India Cements, in October 2018, entered into a share purchase agreement to acquire the entire shareholding of Springway Mining in a phased manner for a total consideration of Rs 1.83 billion (investment of Rs 3.1 billion, including advances and interest on advances). The acquisition was completed recently in June 2022..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

India Cements - Divestment Of Limestone Bearing Land In Central India: Motilal Oswal

India Cements has agreed to divest its entire stake in Springway Mining to JSW Cement for Rs 477 crore.

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