Star Cement Expands with New Wholly-Owned Subsidiary in Meghalaya

Star Cement Limited announced the incorporation of M/s. RI PNAR CEMENT PRIVATE LIMITED (RPCPL) in Meghalaya.

M/s. RI PNAR CEMENT PRIVATE LIMITED is a wholly owned subsidiary of M/s. Star Cement Limited, making it a related party. This acquisition is done at arm’s length, meaning it is conducted fairly and transparently. The incorporation of M/s. RI PNAR CEMENT PRIVATE LIMITED was approved by the Ministry of Corporate Affairs (MCA) on September 5, 2024.

Purpose and Impact of Acquisition

The newly incorporated company aims to engage in cement and cement-related activities, aligning with the core business of its holding company. The acquisition helps expand the company’s operations in the cement sector.

Acquisition Details

The cost of acquisition involved an initial subscription amount of ₹1,00,000 for 10,000 equity shares, each valued at ₹10. The acquisition was made through an initial subscription.

Shareholding

The entire shareholding, amounting to 100% of the equity shares, was acquired through this initial subscription.

About M/s. RI PNAR CEMENT PRIVATE LIMITED

M/s. RI PNAR CEMENT PRIVATE LIMITED, which has its registered office in Jaintia Hills, Meghalaya, was incorporated as a wholly owned subsidiary. The entity operates within the Cement Industry. The company is yet to commence operations. It was established recently, and there is no turnover history for the past three years as it is a newly formed entity.

M/s. RI PNAR CEMENT PRIVATE LIMITED has an authorized capital of ₹10,00,000, divided into 1,00,000 equity shares of ₹10 each. The paid-up capital is ₹1,00,000, consisting of 10,000 equity shares of ₹10 each.

About Star Cement Ltd

Star Cement Ltd is a major player in the cement industry, focusing on the production and sale of Cement Clinker and Cement. It operates primarily in the north-eastern and eastern states of India and stands as the largest cement manufacturer in North-East India. The company’s product range includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Anti-Rust Cement (ARC), Portland Composite Cement (PCC), and Weather Shield Cement (WSC). With approximately 24% of the market share in North-East India, Star Cement leverages its substantial limestone reserves to maintain its leading position.

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