India Cements to Sell Stake in Key Subsidiaries

20 Mar 2025 CW Team

The board of India Cements has approved the divestment of its entire stake in several subsidiaries as part of its strategic restructuring.

In an exchange filing, the company announced that it will sell its entire equity investment in Coromandel Electric Company Ltd (CECL) to Adam & Coal Resources Private Ltd, a Chennai-based firm, for Rs 360 million. Following the completion of the sale, CECL will no longer be a subsidiary of India Cements. Additionally, Coromandel Sugars, in which CECL holds a 49.99% stake, will also cease to be an associate of the company.

Other Divestments: Coromandel Travels: To be sold to Venbro Investments and Financial Services Pvt Ltd for Rs 3.98 lakh. Raasi Cement: Entire stake to be sold to Venbro for Rs10,000. Unique Receivables Management Pvt Ltd: To be divested to Venbro for Rs 2,500. Additionally, ICL Financial Services and ICL Securities, both wholly owned subsidiaries of India Cements, have also approved the sale of their entire equity investment in Raasi Cement, leading to its dissociation from the company.

Shares of India Cements closed the trading session at Rs 272.95, up 2.27%.

Infrastructure Urban

16 May 2025

Antfin to Sell 4% Paytm Stake for Rs 20.65 Bn

China鈥檚 Alibaba Group is set to pare down its stake in One 97 Communications, the parent company of Paytm, through an open market sale scheduled for Tuesday.According to sources, Antfin Netherlands Holding BV鈥攁n affiliate of Alibaba-backed Ant Group鈥攚ill offload 26 million shares, representing roughly 4 per cent equity in the Indian fintech firm.The floor price for the sale is pegged at Rs 809.75 per share, reflecting a 6.5 per cent discount to Monday鈥檚 closing price of Rs 866.35 on the BSE. At this minimum price, the sale is expected to generate around Rs 20.65 billion for the Chinese..

Infrastructure Urban

16 May 2025

Marol鈥檚 Industrial Plot Transforms into Cooling Urban Forest

A 3.5-acre industrial plot in Marol, Mumbai, has undergone a dramatic transformation into a thriving urban forest, reducing local temperatures by up to 4掳C. Once a sparse, sunbaked zone in the city's industrial heartland, the site now serves as a model for climate-resilient development.The Mahatapasvi Acharya Shri Mahashramanji Garden is the result of collaboration between the Brihanmumbai Municipal Corporation (BMC), local industry stakeholders, and ecological design experts. Developed under the District Planning and Development Committee, the initiative showcases how adaptive reuse of urban..

Infrastructure Urban

16 May 2025

LTIMindtree Wins $450 Million Agribusiness IT Deal

LTIMindtree has secured a landmark $450 million contract with a global agribusiness leader, marking the largest deal in the company鈥檚 history. The seven-year agreement will see the firm deploy an AI-powered operating model to provide application management, infrastructure support, and cybersecurity services.The new digital model, underpinned by platforms such as SAP S/4HANA, Microsoft Azure, and ServiceNow, as well as LTIMindtree鈥檚 proprietary AI frameworks, aims to boost the client鈥檚 operational efficiency, scalability, and global expansion capabilities.Announcing the deal on Monday, LT..