"This, together with the existing shareholding of 7.05 crore equity shares (22.77 per cent) of the equity share capital of ICL, has resulted in the Company's shareholding increasing to 17.19 crore equity shares representing 55.49 per cent of ICL's equity share capital," UltraTech had informed in a late-night regulatory filing on Tuesday.
The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company.
Leading cement maker UltraTech has completed the acquisition of promoters a 32.72 per cent stake in India Cements Ltd, following which N Srinivasan and other promoters of the South-based cement maker have stepped down.
The story "N Srinivasan resigns as CEO, MD of India Cements post UltraTech acquisition" has 782 words across 25 sentences, which will take approximately 4 - 7 minutes for the average person to read.
Which news outlet covered this story?
The story "N Srinivasan resigns as CEO, MD of India Cements post UltraTech acquisition" was covered 14 hours ago by Business Standard, a news publisher based in India.
How trustworthy is 'Business Standard' news outlet?
Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.
The outlet is headquartered in India and publishes an average of 189 news stories per day.
It's most recent story was published 2 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
