Shiva Cement board to consider sale of promoter's shares

Board of Shiva Cement will meet today to consider a cement company's proposal to acquire its promoter's shares in the Odisha-based firm.

"The Board Meeting of Directors of the company will be held on January 10, 2017, inter alia, to...Consider proposal of a cement company for purchasing promoter's shares in Shiva Cement and thereby enabling them to invest and expand plant capacity of Shiva Cement," Shiva Cement said in a BSE filing.

While, Shiva Cement did not name the company which has proposed acquisition, Shree Cement and JSW Cement were said to be in fray to acquire the shares.

However, the latter has denied of having any such plans.
 

Shares of Shiva Cement were trading 2.47 per cent higher at Rs 12.84 apiece on BSE.