India Cements shareholders to get ownership of proposed cricket subsidiary

Hiving off CSK is first step for India Cements to become fully cement focused company, he said

India Cements shareholders are set to get ownership of Chennai Super Kings Cricket Ltd, a new wholly owned subsidiary of India Cements. N Srinivasan, vice chairman and managing director announced this today.

Many of the investors want to focus only on Cements and few would be interested in both, so we are giving an option whether they want to be in both or only in Cements.

He refused to comment further anything related to Court orders or anything related to BCCI. "This is the first step in slowly getting into a fully cement focussed company" said Srinivasan.

ICL's Board today has given an approval for the transfer of shares to shareholders.