Elpro International Ltd has acquired a minority stake in Ambuja Cements Ltd, marking its entry into the cement sector, the company said in a regulatory filing to the Bombay Stock Exchange.
The investment comprises 136,000 equity shares purchased for a total consideration of INR60.2m (US$0.72m). Elpro confirmed that it had no prior shareholding in Ambuja Cements and that the transaction was completed in cash.
The company described the acquisition as part of its broader investment and portfolio diversification strategy. It added that the transaction does not constitute a related party deal and did not require any regulatory approvals.
