India Cements Ltd. — Capital/Financing Update 2022

Oct 10, 2022

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SH/DEMAT/

10[th] October, 2022

BSE Limited National Stock Exchange of India Limited Corporate Relationship Dept., Exchange Plaza, 5th Floor First Floor New Trading Ring, Plot No.C/t G Block Rotunda Building, Bandra-Kurla Complex Phiroze Jeejeebhoy Towers Bandra (E) Dalai Street, Fort MUMBAI 400 051. MUMBAI 400 001.

Scrip Code: 530005 Scrip Code: INDIACEM

Dear Sirs,

Sub.: Disclosure under Regulations 30 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015

This is to inform you that our Company has entered into a Share Purchase Agreement on 10.10.2022 with JSW Cement Limited (Buyer) and divested the entire shareholdings held by it in Springway Mining Private Limited (SMPL), for a total consideration of Rs.476.87 crores and consequently, SMPL ceased to be the wholly owned subsidiary of our Company.

The disclosure, as required under Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015, is enclosed.

Thanking you,

Yours faithfully,

for THE INDIA CEMENTS LIMITED

Digitally signed by SWAMINATHA SWAMINATHAN SRIDHARAN N SRIDHARAN Date: 2022.10.10 17:47:47 +05'30'

S.SRIDHARAN COMPANY SECRETARY

Encl.: As above

Email: investor@indiacements.co.in

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Disclosure as required under Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015

Brief background about Springway Mining Private Limited (SMPL)	:		SMPL owns limestone bearing land at Pawai Tehsil, Panna District and is in the process of setting up of a Cement Plant at Gaisabad Tehsil, Damoh District in Madhya Pradesh.
The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year;	:		For the Financial year 2021-2022 Turnover : Nil Net worth : Rs.1422.89 Lakhs
Date on which the agreement for sale has been entered into;	:		10thOctober, 2022
The expected date of completion of sale/ disposal;	:		10.10.2022. Upon completion of certain conditions of the Share Purchase Agreement, the buyer will release the balance amount of Rs.103 crores on or before 31.12.2022.
Consideration received from such sale/disposal;	:		Total Consideration – Rs.476.87 Crores. Amount received on 10.10.2022 – Rs.373.87 Crores.
Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof;	:		JSW Cement Limited The buyer does not belong to the promoter/ promoter group/group companies.
Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”;	:		No. The transaction would not fall within relatedpartytransactions.
Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slumpsale.	:		Not Applicable

for THE INDIA CEMENTS LIMITED

SWAMINATHA Digitally signed by SWAMINATHAN SRIDHARAN N SRIDHARAN Date: 2022.10.10 17:48:09 +05'30'

S.SRIDHARAN COMPANY SECRETARY

Email: investor@indiacements.co.in