The India Cements Limited — Important, 03-07-2025: Sale or disposal

The India Cements Limited’s wholly owned subsidiary, PT Adcoal Energindo, Indonesia, has agreed to sell its entire equity stake in its associate, PT Mitra Setia Tanah Bumbu, Indonesia. The sale consideration is IDR 2.695 billion, with completion expected within six months. The buyers, Indonesian nationals Mr. Finsa Noorcahyo F and Mr. Hari Sutikno, are unrelated to the promoter group. PT Mitra Setia Tanah Bumbu contributed Rs. 93.23 Cr to turnover and Rs. 80.74 Cr to net worth (1.46%) as of December 2024. Upon completion, the associate will cease to be part of the group.