Sri Chakra Cement Ltd. to Sell Assets to J. K. Cement Limited
Sri Chakra Cement Limited announced on March 27, 2026, that its Board of Directors approved the sale and disposal of certain assets, including plant and machinery from the company’s Grinding Unit and land parcels. The transaction involves a sale agreement with J. K. Cement Limited.The assets currently are not operational and do not contribute to the company's business operations. The sale aligns with Sri Chakra Cement's strategy of rationalizing and monetizing non-core assets. The proposed transaction is not expected to have a material impact on the company’s ongoing operations.
The aggregate consideration for the asset sale is approximately ₹ 8.08 Crores, subject to finalization and execution of definitive agreements. J. K. Cement Limited, with a CIN of L17229UP1994PLC017199 and registered office in Kanpur, Uttar Pradesh, is the buyer. The buyer is not affiliated with the promoter group or any directors or managerial personnel.
The sale includes 7.08 acres of land situated in Annamrajupeta, Vizianagaram, Andhra Pradesh. The transaction is subject to customary conditions precedent. The sale is expected to be completed within 30 days of fulfilling these conditions and the purchaser’s satisfaction with the due diligence process.
Below is a table summarizing details of the transaction:
| Particulars | Details |
|---|---|
| Land Area | 7.08 acres in Annamrajupeta, Vizianagaram, Andhra Pradesh |
| Buyer | J. K. Cement Limited (CIN: L17229UP1994PLC017199) |
| Consideration | Approximately ₹ 8.08 Crores |
| Expected Completion Date | Within 30 days of fulfilling conditions precedent |
| Buyer Relationship | Not a promoter/promoter group member |
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