 "Chettinad Cement Corporation aquires stake from Anjani Portland promoters")
Chettinad Cement Corporation Ltd has acquired around 20.58% of shares of Anjani Portland Cement Ltd from some of the latter's promoter shareholders.
According to a filing of Anjani Portland Cement, Chettinad Cement Corporation has bought 37,84.014 shares from the promoters for a purchase price of Rs 61.75 per share through off market purchase on May 15, 2014.
It may be noted that Chettinad Cement, in March, 2014, has announced that it would acquire Andhra Pradesh-based Anjani Portland Cements, which according to reports for a consideration of Rs 100 crore including Rs 70 crore to acquire promoters stake of 61.62% and Rs 29.52 crore to acquire share from public.