Ramco Industries Approves Rs 160-Cr Investment in Ramco Cements

Ramco Industries Board has greenlit an investment of up to Rs 160 crore in The Ramco Cements (TRCL) shares in multiple tranches. As of now, the company has already acquired 4,66,600 shares worth Rs 41.95 crore under this plan.

The company’s current investment in TRCL, originally valued at Rs 158.39 crore, has soared to Rs 4,376.25 crore, reflecting a remarkable 27-fold appreciation. The phased acquisition is expected to conclude within nine months from the approval date.

This strategic move underscores Ramco Industries’ confidence in TRCL and its growth prospects within the cement sector. Presently, the promoters and promoter group collectively hold 42.29% of TRCL’s paid-up capital. The upcoming acquisition will not impact TRCL’s existing management structure.