Ramco Industries Limited — Important, 21-11-2024: General Updates

Ramco Industries Limited has acquired 320,000 shares of The Ramco Cements Limited for a total consideration of Rs. 29.34 Crores, adding to its existing stake in the company. This acquisition follows a previous announcement where Ramco Industries had informed about acquiring 466,600 shares for Rs. 41.95 Crores, still well within its approved limit of Rs. 160 Crores. The Ramco Cements Limited reported a turnover of Rs. 9,392.17 Crores for the year ending March 31, 2024.

The transaction is structured as a cash consideration at a price of Rs. 915.43 per share, including brokerage fees. Following this acquisition, there will be no changes in the management of The Ramco Cements. Ramco Industries is confident about the positive impact of this acquisition, given that its existing investment in The Ramco Cements has appreciated significantly, with potential for further growth. Completion of this acquisition is expected within nine months from the Board's approval.