ACC plans to dispose off its RMX undertaking
Cement manufacturer ACC Ltd on Wednesday said it plans to sell its Ready Mix Concrete (RMX) undertaking to its wholly-owned subsidiary ACC Concrete Ltd, at an estimated Rs 100 crore.
By PTI |
MUMBAI: Cement manufacturer ACC Ltd on Wednesday said it plans to sell its Ready Mix Concrete (RMX) undertaking to its wholly-owned subsidiary ACC Concrete Ltd, at an estimated Rs 100 crore.
In a filing to the Bombay Stock Exchange, the firm said the RMX undertaking comprises 24 units in operation and 5 units under construction in different parts of the country. In addition, the rights, title and interest in the immovable and movable assets would also be sold or transferred.
The firm would seek shareholders' approval for this proposal through postal ballot.
Shirin K Bharucha has been scrutiniser for conducting the postal ballot process in a fair and transparent manner.
The postal ballot forms duly completed should reach the scrutiniser on or before December 18 and the results would be announced on or before December 21.
Shares of the company closed at Rs 1045.15, up 1.56 per cent on the BSE.
In a filing to the Bombay Stock Exchange, the firm said the RMX undertaking comprises 24 units in operation and 5 units under construction in different parts of the country. In addition, the rights, title and interest in the immovable and movable assets would also be sold or transferred.
The firm would seek shareholders' approval for this proposal through postal ballot.
Shirin K Bharucha has been scrutiniser for conducting the postal ballot process in a fair and transparent manner.
The postal ballot forms duly completed should reach the scrutiniser on or before December 18 and the results would be announced on or before December 21.
Shares of the company closed at Rs 1045.15, up 1.56 per cent on the BSE.
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