Anjani Portland Cement's stake in subsidiary Bhavya Cements increases to 99.08%; Stock rises

29 Mar 2022 , 02:07 PM

Anjani Portland Cement Ltd has informed that pursuant to purchase of additional 228518 equity shares of Bhavya Cements Private Limited, a subsidiary of the company, being 0.16% of its paid-up equity shares capital, from its existing shareholders and pursuant to the completion of the Buyback offer given by Bhavya Cements Private Limited, the shareholding percentage of the Company in Bhavya Cements Private Limited has been increased from 93.53% to 99.08%.

Further, the Company did not participate in the Buyback offer given by Bhavya Cements Private Limited, considering the fact that it will be beneficial to the Company to increase its percentage of shareholding in Bhavya Cements Private Limited, after completion of buyback process, said company.

At around 2:11 PM, Anjani Portland Cement was trading at Rs237.95 apiece up by Rs0.7 or 0.3% against its previous closing of Rs237.25 apiece on the BSE.