Chettinad Cement acquires stake in Anjani Portland Cement

Chettinad Cement acquires stake in Anjani Portland Cement

As per the information submitted to BSE, Chettinad Cement has acquired 20.58 per cent stake in Anjani Portland Cement from its promoter KV Vishnu Raju.

The acquisition took place as an off-market transaction with a transfer of 37,84,014 shares acquired to Chennai-based Chettinad at Rs 61.75 a share. With this the shareholding of Chettinad had gone up from 20.58 per cent to 41.16 per cent. It may be recalled that on May 15 2014 Chettinad had made an open offer to acquire over 47.81 lakh shares of Hyderabad-based Anjani Portland Cement at Rs 61.75 per equity share.

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