India Cements Ltd. — Capital/Financing Update 2024

Apr 20, 2024

==> picture [449 x 74] intentionally omitted <==

SH/

20.04.2024

BSE Limited Corporate Relationship Dept. First Floor, New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street, Fort MUMBAI 400 001. Scrip Code : 530005

National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor Plot No.C/1, G Block Bandra-Kurla Complex Bandra (E) MUMBAI 400 051.

Scrip Code : INDIACEM

Dear Sirs,

Sub.: Disclosure under Regulation 30 of SEBI (Listing Regulations and – Disclosure Requirements), Regulations, 2015 Sale or disposal of unit(s) of the Company

This is to inform you that the Board of Directors of our Company at its Meeting held today, the 20[th] April 2024, approved the sale of its Grinding Unit, with an installed capacity of 1.1 MTPA, at Parli Vaijnath, Beed District, Maharashtra (PGU), to UltraTech Cement Limited (CIN: L26940MH2000PLC128420) (“Buyer”) for a total consideration of Rs.315 Crore (exclusive of taxes and levies). The Company has entered into an Asset Purchase Agreement with the Buyer in this regard today.

Disclosures required pursuant to Regulation 30 read with Para A and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is enclosed as Annexure.

The meeting commenced at 12.00 Noon and concluded at 12.50 P.M.

We request you to take the above information on record.

Thanking you,

Yours faithfully, for THE INDIA CEMENTS LIMITED

SWAMINATHA Digitally signed by SWAMINATHAN SRIDHARAN N SRIDHARAN Date: 2024.04.20 12:58:39 +05'30'

COMPANY SECRETARY

Encl.: As above

==> picture [427 x 42] intentionally omitted <==

Y:\ICL-SE-letter 20 04 2024-Reg 30.docx

Email:investor@indiacements.co.in

==> picture [449 x 74] intentionally omitted <==

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

DETAILS OF SALE OF THE COMPANY’S GRINDING UNIT AT PARLI (PGU)

a)	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year;	:		As per the Audited Financial Statements for the year ended 31stMarch, 2023: Turnover of PGU: Rs.250.66 Crore. Percentage of turnover: 4.63%. Net Asset Value of PGU: Rs.75.10 Crore. Percentage of Net Asset Value: 2.40%.
b)	Date on which the agreement for sale has been entered into;	:		The Company has entered into an Asset Purchase Agreement on 20.04.2024 with UltraTech Cement Limited (“Buyer”).
c)	The expected date of completion of sale/disposal;	:		26.04.2024.
d)	Consideration received from such sale/disposal;	:		Total consideration is Rs.315 Crore (exclusive of taxes and levies), out of which Rs.307 Crore will be received by the Company shortly and the balance Rs.8 Crore within nine months from the date of the Agreement.
e)	Brief details of buyers and whether any of the buyers belong to the promoter / promoter group / group companies/directors/KMP and their relatives. If yes, details thereof;	:		UltraTech Cement Limited (CIN: L26940MH2000PLC128420). The Buyer does not belong to the promoter / promoter group / group companies or related to any Directors / KMP of the Company and their relatives.
f)	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length”;	:		This transaction is not a Related Party Transaction.
g)	Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations.	:		Yes. However, Regulation 37A of the LODR Regulations is not applicable, as PGU does not fall within the meaning of “undertaking” as explained under Section 180 of the Companies Act, 2013.
h)	Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale.	:		Not Applicable.

SWAMINATHA Digitally signed by SWAMINATHAN SRIDHARAN N SRIDHARAN Date: 2024.04.20 12:59:04 +05'30'

==> picture [427 x 42] intentionally omitted <==

Y:\ICL-SE-letter 20 04 2024-Reg 30.docx

Email:investor@indiacements.co.in