India Cements today said promoters' stake in the company has gone up to 28.24% with the acquisition of 76 lakh shares from the open market.
In a filing to the BSE, India Cement said Prince Holdings (Madras), one of the promoter group companies, has bought the shares today for Rs 65.36 crore.
With the acquisition of shares, Prince Holdings' stake in the company has gone up to 8.3% now from 5.83% earlier.
Promoters had 7.91 crore shares or 25.77% stake in the company before the transaction. Following this, the company promoters now hold 8.67 crore shares in India Cements.
Shares of India Cements today settled at Rs 86.10 apiece at the BSE, up 0.06% over the previous closing.