Star Cement's Subsidiary to Acquire 100% Stake in Nitesh Minerals for Limestone Supply
Star Cement Limited has announced that M/s Ri Pnar Cement Private Limited (RPCPL), a wholly owned subsidiary of the company, has executed a Share Purchase Agreement (SPA) with the shareholders of M/s Nitesh Minerals Private Limited (NMPL). This acquisition aims to secure the supply of limestone and enhance logistics benefits for the cement business.Upon the completion of the transaction, NMPL will become a wholly owned subsidiary of RPCPL, thereby establishing itself as a step down subsidiary of Star Cement Limited. The agreement was signed on April 18, 2026, marking the commencement of the acquisition process.
The primary objective of the acquisition is operational. RPCPL, recognizing NMPL's existing mining lease, is acquiring the entire 100% stake to ensure an uninterrupted supply of limestone required for its cement manufacturing operations. This strategic move is also expected to allow RPCPL to avail significant logistic benefits.
Transaction Details and Company Profile
The acquisition involves a cash consideration for the shares. The total cost of the acquisition set by the SPA is Rs. 17,19,00,000 (Rupees Seventeen Crores Nineteen Lakhs only).The following table provides a summary of the target entity, M/s Nitesh Minerals Private Limited, and the core terms of the purchase agreement:
| Detail | Value |
|---|---|
| Target Company | M/s Nitesh Minerals Private Limited |
| Industry | Mines & Minerals |
| Transaction Nature | Acquisition of 100% stake |
| Consideration Type | Cash Consideration against shares |
| Acquisition Cost | Rs. 17,19,00,000 |
A detailed look at Nitesh Minerals Private Limited's structure and turnover highlights its scale:
| Metric | Value |
|---|---|
| Incorporation Date | December 7, 2006 |
| Authorized Share Capital | Rs. 25.00 Lakhs (2,50,000 shares of Rs.10/- each) |
| Paid up Share Capital | Rs. 4.50 Lakhs |
| 2025 Turnover | Rs. 157.22 Lakhs |
| 2024 Turnover | Rs. 287.07 Lakhs |
| 2023 Turnover | — |
STARCEMENT Stock Price Movement
On Friday, Star Cement Limited shares edged higher, settling at ₹222.36 after gaining 0.05% in value. The equity found support throughout the session, trading volume totaled 117,850 shares.Source:
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