Orient Cement Limited — Important, 22-10-2024: General Updates

Orient Cement Limited's promoters have entered into a share purchase agreement to sell 7,76,49,413 equity shares, representing 37.90% of the company, to Ambuja Cements Limited at ₹395.40 per share. This transaction will result in Ambuja Cements acquiring control over Orient Cement, necessitating an open offer under SEBI regulations. The deal requires certain conditions to be met before completion, including obtaining statutory approvals and reconstituting the board to include the purchaser's directors.