Shree Digvijay Cement: Promoter Sells 50.10% Stake; Strategic Distribution & Acquisition Option for Hi-Bond Cement
The announcement involves a change of control for 50.10% of the company, a mandatory open offer, and a major strategic business expansion through an exclusive distribution agreement valued at ₹600 crore annually, plus an option to acquire the partner company. These are substantial events for the company's future operations and ownership structure.
The company is undergoing a significant change in ownership with new strategic investors, and simultaneously entering a large-scale exclusive distribution agreement and an option to acquire another company, indicating strategic growth and expansion opportunities.
* True North Fund VI LLP, the promoter of Shree Digvijay Cement Co. Ltd., has entered into a Share Purchase Agreement (SPA) on 4th September 2025, to sell up to 7,42,71,009 equity shares, representing 50.10% of the company, to India Resurgence Fund -Scheme 1, India Resurgence Fund 2 -Scheme 2, and India Resurgence Fund 2 -Scheme 4 (collectively "IRF Entities"). * This SPA Transaction will trigger a mandatory tender offer (Open Offer) to the public shareholders of the company, in accordance with SEBI regulations. * Upon the consummation of the Proposed Transaction, the board of the Company will be reconstituted, with a nominee director from the Purchasers being appointed, and True North will be reclassified as a public shareholder. * Separately, the board of directors of Shree Digvijay Cement Co. Ltd., in its meeting on 4th September 2025, approved and executed a Distribution Agreement with Hi-Bond Cement (India) Private Limited ("HIBOND"). * Under this agreement, Shree Digvijay Cement will become the sole and exclusive distributor of 100% of HIBOND's cement products for a period of 10 years. * The company will provide a refundable deposit of up to ₹400 crore to HIBOND and will have the right to nominate one non-retiring executive director on HIBOND's board. * The Distribution Agreement is valued at an estimated ₹600 crore per annum, subject to annual changes. * Additionally, an Options Agreement was executed, granting Shree Digvijay Cement a call option to acquire 100% of HIBOND's equity shares within 8 years from the effective date, at fair market value. The HIBOND sellers also have a put option. * A Company Agreement was also executed between Shree Digvijay Cement and the IRF Entities, governing their rights and obligations concerning the Distribution Transaction Documents, CCI approval, and the Open Offer.
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Shree Digvijay Cement Co.Ltd filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Shree Digvijay Cement Co.Ltd. Read the original for the full detail.