The India Cements Limited — Important, 18-03-2025: General Updates

The Board of Directors has approved significant divestments, including the complete sale of equity investments in Coromandel Travels Limited and Raasi Cement Limited, which will no longer be subsidiaries. Additionally, wholly-owned subsidiaries ICL Financial Services Limited and ICL Securities Limited will sell their investments in Raasi Cement Limited and Coromandel Electric Company Limited, among others. Notably, Coromandel Electric Company contributed approximately Rs. 114.38 Cr (2.24% of turnover) to the company's financials. The transactions involve a proposed sale price of Rs. 3.98 lakhs for Coromandel Travels and Rs. 10,000 for Raasi Cement, while Coromandel Electric is expected to fetch Rs. 36.27 Cr. The expected completion for all sales is within six months from final agreements, with Venbro Investments and Financial Services Private Limited acting as the buyer for several entities. This strategic repositioning may improve the company's focus on core operations, potentially enhancing shareholder value. Investors should watch closely for further developments on these transactions.