The cement major will pick up stakes from Rajendra Chamaria and his family's holdings, part of the promoter group, according to sources. Only the Chamaria family is selling its stake in Star Cement, they said, and the other promoters who control Century Ply remain committed and are not divesting any shares.
Rajendra Chamaria, when asked for comments, did not deny the development but refrained from divulging details.
"The Chamariases are gradually selling out and have approached co-promoters like Sajjan Bhajanka and Sanjay Agarwal. Currently, the Chamarias' holdings are estimated to be around 13-14%. Any new investor will not have a board seat," one of the sources said.
Diese Geschichte stammt aus der December 28, 2024-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der December 28, 2024-Ausgabe von Financial Express Mumbai.
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