Shiva Cement

JSW Cement Ltd bought ACC Ltd's entire 12.13% stake in Shiva Cement Ltd for Rs 38.67 crore ($5.8 million) in an off-market transaction, following a prior agreement to buy a 35.6% stake from promoters.

JSW Cement acquired a 37.16% stake from the promoters of Shiva Cement for ₹97 crore and made an open offer for an additional 32% for ₹87.36 crore. JSW Cement plans to invest ₹450 crore to expand clinker capacity at the Shiva Cement plant from 100,000 tonnes to 1 million tonnes.