Economy & Market
Promoters of India Cements up stake to 28.24%
India Cements on July 5 said that its promoters' stake in the company has gone up to 28.24 per cent with the acquisition of 76 lakh shares from the open market. In a filing, India Cement said Prince Holdings (Madras), one of the promoter group companies, has bought the shares on July 5 for Rs 65.36 crore.
With the acquisition of shares, Prince Holdings' stake in the company has gone up to 8.3 per cent now from 5.83 per cent earlier.
Promoters had 7.91 crore shares or 25.77 per cent stake in the company before the transaction. Following this, the company promoters now hold 8.67 crore shares in India Cements.