April 28, 2024
admin
(20 second reading) The Aditya Birla Group is in advanced stage of negotiation to buy the promoter’s stake in the company.
Earlier in October 2023, the firm had approached Adani Group to sell its promoter stake. Last year, JP Morgan was roped in by Birla to find a buyer for his business.
The promoter stake in Orient Cement – held by the Birla family and private investment vehicles – is 37.9 percent, with a current market value of Rs 1,917 crore.
Shares of Orient Cement Ltd surged over 11 percent after this news.
