India Cements to Divest Entire Stake in its Subsidiary ICML

India Cements Limited has announced the sale of its entire equity holding in Industrial Chemicals and Monomers Limited (ICML), a subsidiary of the company. The decision was approved by the Board of Directors in a meeting held on June 21, 2025. Once completed, ICML will no longer be a subsidiary of India Cements.

Transaction Details

The buyer for the transaction is Mirai Sensing Private Limited, a company based in Chennai. An agreement will be entered into once the final terms are settled. The transaction is not considered a related party deal, as Mirai Sensing does not belong to the promoter or group company structure of India Cements. The sale is expected to be completed within 6 months from the date of the agreement.

The proposed consideration for the sale is ₹97.68 crore. This amount covers the full equity holding of India Cements in ICML.

Financial Contribution of ICML

ICML is not a material subsidiary and is not listed on any stock exchange. For the financial year 2024-25, it did not report any turnover. Other income stood at ₹0.30 crore. The net worth of the subsidiary was recorded as a negative ₹12.03 crore. ICML’s overall contribution to India Cements' consolidated financials was effectively 0%.

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting where the decision was taken started at 12:00 noon.

India Cements Share Price Performance

As of 10:23 AM on June 23, 2025, India Cements share price was trading at ₹309.10, a 0.96% increase. The stock has declined by 14.81% over the past 6 months and is up 33.04% over the past year.

Conclusion

India Cements has initiated the process to divest its entire stake in ICML for ₹97.68 crore. The transaction is expected to conclude within the next 6 months, following the execution of a formal agreement with the buyer.

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