The Board of Directors of The India Cements Limited approved the sale of its entire equity investment in Industrial Chemicals and Monomers Limited (ICML), a non-core and unlisted subsidiary, at its meeting held on 21 June 2025.
Upon completion of the sale, ICML will no longer be a subsidiary of The India Cements Limited.
The proposed sale consideration for ICML is ₹97.68 crore.
The buyer for this transaction is Mirai Sensing Private Limited, which is not a related party or part of the promoter/promoter group.
For the financial year 2024-25, ICML's contribution to The India Cements Limited was: Turnover - ₹0, Other Income - ₹0.30 crore (0.00%), and Net Worth - ₹(12.03) crore (0.00%).
The company expects to enter into an agreement with the buyer upon finalization of terms, with the sale expected to be completed within six months from the date of the agreement.