Anjani Portland Cement to acquire controlling stake in Bhavya Cements.

Anjani Portland Cement has entered into a Share Purchase Agreement with Bhavya Cements (Investee Company) and its Promoters, for acquisition of controlling stake in the equity shares capital of the Investee Company at a Provisional Price of Rs. 51.53/- per share, subject to fulfilment of conditions precedent.

The objective of the acquisition is to improve the market presence of the company with addition of a new brand.

The acquisition would increase the cement manufacturing capacity under the control of the company substantially.

BS